Artemis Electricals Ltd. has announced public offering of 7000000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 50.00 per share. The gross proceeds of the issue are expected to be Rs 4,200.00 lakhs.

The company's initial public offer (IPO) will open on 24 April 2019 and is expected to close on 30 April 2019, subject to customary closing conditions. The price band of the issue has been fixed at Rs 55.00-60.00 per share.

The IPO includes a fresh Issue of 7000000 Equity Shares of the Company at an price of Rs 60.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000.

Artemis Electricals Ltd. anticipates using the proceeds of the issue for Long term working capital requirements, Purchase of machinery / equipment, General corporate purposes.

as lead manager & is the registrar, to the issue.