PNN
Mumbai (Maharashtra) [India], September 27: Kontor Space Limited specializes in using technology to offer collaborative and productive "space-as-a-service" solutions, has announced its plans to go public with an Initial Public Offering on 27th September, 2023. The company is aiming to raise Rs 15.62 Crore at the fixed price of Rs 93 through this IPO, with shares set to be listed on the NSE EMERGE platform.
The issue size is Up to 16,80,000 equity shares at face value of Rs 10 each.
The net proceeds from the IPO will be utilized to make the payment of Rental Deposits of new co-working centers, Capital Expenditure for fit outs of new co-working centers and for General Corporate Purposes. The issue closes on 03rd October, 2023.
Equity Share Allocation
* Non-Institutional Investors (NII) – Up To 7,96,800 Equity Shares
* Retail Individual Investors (RII) – Up To 7,96,800 Equity Shares
* Market Maker – 86,400 Equity Shares
The Lead Manager to the Issue is Srujan Alpha Capital Advisors LLP. The Registrar to the Issue is Cameo Corporate Services Limited.
Kanak Mangal, Promoter of Kontor Space Limited said, “As we announce the Initial Public Offering of Kontor Space Limited, it represents our dedication to pushing the boundaries in the 'space-as-a-service' sector. We have always strived to redefine domain with innovative and technology-driven solutions.
The capital from this IPO will empower us to expand and refine our services, ensuring we continue to meet the evolving needs of industry and our clients. We remain steadfast in our mission to set new benchmarks in the co-working industry."
Jinesh Doshi, Founding Partner of Srujan Alpha Capital Advisors LLP said, "Kontor Space, with its forward-thinking approach in the 'space-as-a-service' sector, has demonstrated tremendous potential for growth and innovation. The IPO not only signifies their market maturity but also ushers in a new era of expansive opportunities.“
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