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Tara Chand Logistic’s IPO to open on Mar 13

Friday, March 09, 2018

The initial public offer of Tara Chand Logistic Solutions, through which the firm aims to raise over Rs 20 crore, will open on March 13.

The public issue is of 37.20 lakh equity shares of face value of Rs 10 each for cash at a price of Rs 55 per equity share aggregating to Rs 20.46 crore, the company said in a release.

The issue comprises of 1.92 lakh equity shares aggregating to a little over Rs 1.05 crore reserved for subscription by the market maker of the issue, it added.

The initial share sale would close on March 15. The total revenue of Tara Chand Logistic Solutions Ltd. has increased from Rs. 2,258.67 lakhs for Fiscal 2013 to Rs. 5265.07 lakhs in Fiscal 2017 at a Compound Annual Growth Rate (CAGR) of 23.56% while, our net profit as restated has increased from Rs. 55.96 lakhs in Fiscal 2013 to Rs. 262.97 lakhs in Financial Year 2017 at a CAGR of 47.23%.

Hem Securities is the lead manager to the initial public offer. Based in Mumbai, Tara Chand Logistic Solutions is engaged in providing logistic and supply chain services including transportation and warehousing, equipment rental and steel processing and distribution.

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