Swajas Air Charters IPO : Files DRHP with SEBI

by khalid on 12/05/2011 · 1 comment

Chennai based Swajas Air Charters has informed the share market (BSE/NSE) that they have planning to enter capital markets with its initial public offering (IPO) of —- equity shares of Rs 10 each for cash constituting Rs 37.50 crore. The company had filed a Draft Red Herring Prospectus (DRHP) on 23rd Apr 2011 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. Swajas Air is a non-scheduled airline operator servicing a fleet of fixed-wing aircraft and helicopters across India. The services offered by company includes air charter services; off shore transportation & logistics; charter tourism; medical evacuation services and operations & maintenance.

The proceeds of this IPO will be used to part finance the fleet expansion; to set up of MRO (Maintenance, Repair & Overhaul) /Hanger facility; purchase of office building/space; for working capital requirement and other corporate purposes.

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 sole book running lead manager for the IPO is Aryaman Financial Services.

Stay tuned to BelltheBull Blog for more news on Swajas Air Charters IPO !

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