Top technical facilities management services provider Icon Facilitators (IFL) has submitted a draft red herring prospectus (DRHP) for IPO to the BSE SME. The IPO includes new issuance of 21,00,000 equity shares with a face value of Rs 10. IFL plans to use a significant portion of the IPO proceeds for working capital and expansion into southern India, where it recently opened a new office. With a strong presence in North India and plans for expansion, IFL is expected to see high commercial growth and benefit investors.
Icon Facilitators Prepares for SME IPO on BSE
Background
Icon Facilitators Pvt. Ltd. (IFL) is a leading provider of technical facilities management (TFM) services in India. With a strong presence in North India, the company has recently expanded into South India with the opening of a new office.
IPO Details
IFL has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) on the Bombay Stock Exchange (BSE) SME platform. The IPO will consist of a fresh issuance of 21,00,000 equity shares with a face value of Rs 10 each.
Use of Proceeds
The company plans to utilize a significant portion of the IPO proceeds for the following purposes:
Growth Prospects
IFL is well-positioned for commercial growth due to its strong market presence in North India, recent expansion into South India, and plans for further expansion. The company expects to benefit investors through its anticipated revenue growth.
Top 5 FAQs
Q1. What is the issue size of the IPO? A1: 21,00,000 equity shares.
Q2. What is the face value of the shares? A2: Rs 10.
Q3. What is the purpose of the IPO? A3: To raise funds for working capital and expansion into South India.
Q4. When is the IPO expected to open? A4: The IPO opening date has not yet been announced.
Q5. What are the risks associated with investing in the IPO? A5: As with any investment, there are risks associated with investing in this IPO, including market fluctuations, competition, and the company's financial performance.
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