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Two SME IPOs to Hit Capital Mmarket Next Week
As per draft papers filed, Akash Infra Projects plans to invest Rs 25.5 crore through IPO, which will be open to public subscription between February 28 and March 6, whereas RMC Switchgears is expected to acquire Rs 4.15 crore through the public issue. The Offering will open on February 28 and close on March 3. Proceeds of the issues will be utilized for business expansion plans and working capital requirements, among others.
Shares of Akash Infra Projects will enlist on National Stock Exchange's small and medium enterprises platform , while RMC Switchgears will list its shares on Bombay Stock Exchange's SME platform. Both the bruisers had launched small and medium enterprises platforms in March 2012. Since then, many companies got elisted on them and some have even shifted to the main board.
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