SME IPO of Benara Bearings & Pistons Limited to open on March 20, 2018 with price band of Rs 60 to Rs 63 per equity share of face value of Rs. 10 each

·         Public Issue of up to 53,16,000 Equity Shares of Benara Bearings & Pistons Limited
·         The minimum Bid lot is 2,000 equity shares and in multiples of  2,000 equity shares thereafter
·         Issue Opening Date – March 20, 2018 and Issue Closing Date –March 22,2018

MUMBAI, March 15 2018Benara Bearings & Pistons Ltd (“the Company”)is engaged in the manufacturing of engine bearings, bushes, pistons, piston pin, piston rings, cylinder liners and sleeves and engine valves, will be launching its Initial Public Offering (“IPO” or the “Issue”) on the SME Platform of BSE Limited,which is scheduled to open on
March 20, 2018 and close on March 22, 2018,
 with a price band of Rs. 60 to Rs. 63 per Equity Share of face value of Rs. 10 each of the Company. 

The issue consists of Initial Public Issue of upto 53, 16,000 equity shares of face value of Rs.10 each(“Equity Shares”), aggregating upto Rs. (.) Lakhs (The issue) of which 2, 72,000 equity shares of face value of Rs 10 each for cash at a price of Rs. [.]/- per equity share, aggregating Rs [.] Lakhs will be reserved for subscription by the market maker to the issue (The Market Maker Reservation Portion) and upto 76,000 equity shares of Rs. 10/each for cash at a price of Rs (.) per equity share aggregating Rs (.) Lakhs will be reserved for subscription by eligible employees (The “Employee Reservation Portion”). The issue less Market Maker Reservation Portion and Employee Reservation Portion i.e. issue of upto 49, 68,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs (.)-per equity share aggregating Rs. (.) Lakhs is hereinafter referred to as the “Net Issue.”
The Face Value of the Equity shares is Rs 10 each and the issue price is 6.00 times the face value at the lower price band and 6.30 times the face value at the upper price band.
The Net Proceeds will be utilized for Expansion of the Company by way of opening retail stores for automobile parts across the country; funding the working capital requirements of our Subsidiary Company – Benara Solar Private Limited (“BSPL”), Funding the working capital requirements of Our Company and General Corporate Purposes. (Collectively, herein referred to as the “Objects of the issue”).
In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”) the Issue is being made for at least 25% of the post-Issue paid-up Equity Share capital of our Company.
In terms of SEBI Circular No. CIR/CFD/POLICYCELL/11/2015, all potential investors shall participate in the Issue only through an Application Supported by Blocked Amount (“ASBA”) process providing details about the bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) for the same.
Pantomath Capital Advisors Private Limited is the Book Running Lead Managers to the issue and Bigshare Services Private Limited is the Registrar to the Issue.
The Equity Shares of the company are proposed to be listed on SME Platform of BSE Limited.

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