Jaipur (Rajasthan) [India], October 07: Tier II City based Investment Banker Holani Consultants Private Limited successfully lead managed Maiden Right Issue of 3rd Largest Tile manufacturing company in India ASIAN GRANITO INDIA LIMITED. The Right Issue size was 224.64 Cr and opened for subscription on 23rd September 2021 and closed on 7th October 2021. The issue was oversubscribed by 1.13%, and applications for Rs 255.67 Cr received in the right issue till 4.00 PM on 7th October 2021.

The right issue in terms of the fund raised was 3rd largest Right Issue in the fiscal year 2021 and the first right issue under the Ceramic industry since the fiscal year 2010.

The issue was attractively priced at Rs.100/- against the CMP of Rs.170 per share, which resulted in overwhelms responses from the investors. As of the record date 7th September 2021, Asian Granito India Limited has 62000+ shareholders, and most of the them subscribed to the offer. Also, there was a huge demand for the Rights entitlements of the company, and during the limited period of trading of rights entitlements, around 58 lacs rights entitlements hands were changed at an average price of 38 to 39 per share.

Speaking to the occasion, Mr Ashok Holani, Director of Holani Consultants Private Limited, said that HCPL has entered into the merchant banking business in the year 2018 and since then have successfully fund raised 325 Cr for its clients. He further added that their company is always thriving to bring the best quality companies in the capital market under their investment banking arm. Mr Holani further added that in the current financial year, HCPL is managing three mainboard IPO and 3 SME IPOS and all are scheduled to hit the markets in the current financial year.

About Post Author

Mayur Gehlot

dhaval@digitalstrikers.com

https://udaipurdispatch.com

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