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( As on 22/02/2021 10:20) Pavna Industries announces launch of initial public offering

Pavna Industries Ltd. has announced public offering of 1800000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 155.00 per share. The gross proceeds of the issue are expected to be Rs 2,970.00 lakhs.

The company's initial public offer (IPO) will open on 24 February 2021 and is expected to close on 01 March 2021, subject to customary closing conditions.

The IPO includes a fresh Issue of 1800000 Equity Shares of the Company at an price of Rs 165.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 800 shares with bids in multiples of 800.

Pavna Industries Ltd. anticipates using the proceeds of the issue for Part Repayment of Loans General Corporate Purpose.

Aryaman Financial Services Ltd. as lead manager & Link Intime India Private Limited is the registrar, to the issue.
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