Wednesday, March 15, 2017

Shankara Building Products IPO to open on Mar 22nd

Shankara Building Products Ltd is entering in the capital market with an Initial public offering which comprises a fresh issue of 45.00 Cr ("fresh issue") and an offer for sale of upto 6,521,740 equity shares by the selling shareholders, Including upto 816,252 equity shares by their promoter, sukumar srinivas and  up  to  5,705,488 equity  shares  by  fairwinds  trustees  services  private  limited ("Offer for sale"). The price band for the issue has been fixed at Rs 440 at lower level and Rs 460 at upper level.

Shankara Building Products Ltd is retailers of home improvement and building products in India. They offer a wide range of products at their stores which includes structural steel, cement, TMT bars, hollow blocks, pipes and tubes, roofing solutions, welding accessories, primers, solar heaters, plumbing, tiles, sanitary ware, water tanks, plywood, kitchen sinks, lighting and other allied products.

The issue opens on Mar 22, 2017 and closes for subscription on Mar 24, 2017. The equity shares of the issue are proposed to be list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).