Blend Financial Services IPO : Files DRHP with SEBI

by khalid on 27/09/2010 · 0 comments

Mumbai based Blend Financial Services Ltd. is the leading and fastest growing financial services company in India. The company’s primary focus is in assisting small and medium enterprises (SMEs) in corporate and non corporate sector in their financial planning and arranging debt funds for their growth as well as working capital. The company is planning to enter capital markets with its maiden public issue of 42.5 lakh equity shares of face value Rs 10 each. The company has filed a Draft Red Herring Prospectus (DRHP) on 15th Sep 2010 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The issue constitutes 39.76% of the fully diluted post-issue paid up capital of the company.

Currently promoters Kailash Chandra Gupta, Mr. Ravi Gupta and Ms. Vaibhavi Mahendra Thakkar hold 94.68% stake in the company.

The proceeds of the issue would be deployed for expansion of the existing operations; investment in India Factoring and Finance Solutions Pvt Ltd (JV Company); making strategic investments or acquisitions of companies engaged in the business of financial services and brand building.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Book running lead managers to the issue are IDBI Capital Market Services Ltd, PL Capital Markets Pvt Ltd and Punjab National Bank.

Registrar of the Issue : Link Intime (India).

Stay tuned to BelltheBull Blog for more on Aanjaneya Lifecare IPO !

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