SME: Naysaa Securities IPO to open on September 5

Written By Unknown on Rabu, 27 Agustus 2014 | 20.07

Naysaa is a diversified financial services company offering a wide range of products and services covering equity broking and equity derivatives to all kinds of investors.

Moneycontrol Bureau

Mumbai-based stock broking firm Naysaa Securities will open its public issue of 10 lakh equity shares for subscription on September 5, 2014. The issue price is fixed at Rs 15 per share.

The public issue, which will close on September 12, consists of 56,000 equity shares for subscription by market makers and the rest 9,44,000 shares for public, which in total representing 28.76 percent of the post issue paid up equity share capital of the company.

Naysaa is a diversified financial services company offering a wide range of products and services covering equity broking and equity derivatives to all kinds of investors.

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Vikram Jayantilal Lodha and Jayantilal Hansraj Lodha are the promoters of the company, who hold 38.26 percent and 18.05 percent stake in the company as of now, respectively.

The company aims to raise Rs 1.5 crore through the issue, which will be used for expanding domestic operations and network of branches; enhancement of margin money maintained with the exchanges; and general corporate purposes.

Promoter and promoter group will dilute their shareholding from 65.75 percent to 46.83 percent through this issue.

For the year ended March 31, 2014, Naysaa reported a profit of Rs 1 lakh on revenue of Rs 7.08 crore as against profit of Rs 0.3 lakh on revenue of Rs 26.77 crore in previous financial year.

Equity shares are proposed to be listed on the BSE SME platform. Guiness Corporate Advisors Private Limited is the lead manager to the issue and Bigshare Services Private Limited is the registrar.

Posted by Sunil Shankar Matkar


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