Storage Technologies & Automation Ltd - IPO

Storage Technologies & Automation Ltd IPO Details

Public issue of upto 38,40,000 equity shares of face value of Rs. 10/- each (Equity Shares) of Storage Technologies and Automation Limited (Storage Technologies or the Company or the Issuer) for cash at a price of Rs. 78/- per equity share including a share premium of Rs. 68/- per equity share (the Issue Price) aggregating to Rs. 29.95 crores (The Issue), of which 2,00,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 78/- per equity share including a share premium of Rs. 68/- per equity share aggregating to Rs. 1.56 crores will be reserved for subscription by market maker to the issue (the Market Maker Reservation Portion). The issue less the market maker reservation portion i.e. net issue of 36,40,000 equity shares of face value of Rs. 10/- each at a price of Rs. 78/- per equity share including a share premium of Rs. 68/- per equity share aggregating to Rs. 28.39 crores is herein after referred to as the Net Issue. The issue and the net issue will constitute 29.91 % and 28.35 % respectively of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each. The face value of the equity shares is Rs. 10/- each and the issue price is Rs. 78/-. The issue price is 7.8 times of the face value.

Objective of issue

To meet working capital requirements. General corporate expenses.

Storage Technologies & Automation Ltd Contact Details

Storage Technologies & Automation Ltd, #30 Ramana Residency, 4th Cross Sampige Rd, Malleswaram, Bangalore - 560003

Phone - 91-80-23460815-818

Fax - 91-80-23460819

Email - cs@racksandrollers.com

Website - https:, racksandrollers.com