MUMBAI: Navoday Enterprises Ltd, a marketing and event management company, is set to open its initial public offering on 14 June with a price band fixed at ₹20 apiece.
The firm will raise nearly ₹46.08 crore and the issue will close on 17 June.
Navodaya Enterprises said that 1.2 million shares of ₹24 lakh will be reserved for market makers and rest of the ₹43.68 crore will be called as net issue.
Inventure Merchant Banker and Sattlite Corporate Service are the lead managers to the issue.
The proceeds from the issue will be used for working capital requirements and general corporate purpose.
The firm treats marketing and advertising as fundamental to its business strategy and revenue management. It provides outdoor, print, ground events/activations and digital marketing sevices.
The firm is also engaged in events management which includes planning, organizing and managing events. It has managed commercial events, corporate events, cultural events and also small brand promotion events for its clients.
Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!
/cloudfront-us-east-2.images.arcpublishing.com/reuters/7UUCITBREZLGFJQFS2PXWZKRKQ.jpg)
