Ascom Leasing & Investments Ltd Plans an IPO
Ascom Leasing company is involved in the finance business. It plans to go public through an initial public offering. Ascom Leasing IPO will open for subscription on 26th November. Through this offer, it looking to raise Rs 6.32 crore. The issue will close for subscription on 28th November 2019.
The company offers personal, vehicle, and home loans. It provides these loans in two segments individual and mortgage loans. In the last two fiscals, the company reported positive earnings.
Basic Details of Ascom Public Offer
| IPO Name | Ascom Leasing IPO |
| Subscription Period | Nov 26, 2019 – Nov 28, 2019 |
| Issue Size | 2,108,000 equity shares of Rs10 (aggregating up to Rs 6.32 crore) |
| Face Value | Rs 10 per equity share |
| Issue Price | Rs 30 per equity share |
ALIL’s public offering is a fixed price issue. It offers a total of 2,108,000 equity shares at a face value of Rs 10 per share aggregating up to Rs 6.32 crore. The proposed shares of Ascom will list at a small and medium enterprise (SME) platform of the National Stock Exchange. ALIL is completely a fresh issue and 50% of the offer reserved for retail allocation.
The minimum application and market lot of the issue is set at 4000 shares per application. Investors should invest a minimum of Rs 1,20,000 per lot. This SME IPO will lead manage by Fast Track Finsec Pvt Ltd. It has registrar the IPO at Skyline Financial Services Pvt. Ltd.
Objects of ALIL Issue
As of the IPO draft prospectus, the company will utilize net proceeds of the issue towards meeting the capital requirements, general corporation charges, and issue fees. It may spend up to Rs 0.41 crore for meeting the issue expenses.
The allotment and listing dates will available after completing the subscription process. Investors who want to apply to this issue will do this through banks using ASBS online or by using UPI related to stock sellers trading account like ICICI.
Promoter Holding
| Pre Issue Share Holding | 98.94% |
| Post Issue Share Holding | 72.24% |
IPO Prospectus Documents
Ascom Leasing IPO Registrar
Skyline Financial Services Private Ltd
D-153A, 1st Floor,
Okhla Industrial Area, Phase-I,
New Delhi -110020
Phone: +91 – 11 – 2681
Email: [email protected]
Website: http://www.skylinerta.com
Expert View:
The merchant bankers of the ALIL issue have an average track record. Currently, it has been facing average operations. Moreover, it observes low performance in all segments. So, the investment experts said that investors may consider investments at their own risk.
Disclaimer: This article just offers data about the public issue. It does not grant any advice or direction to invest. Please study the proposal paper thoughtfully and consult your adviser before investing.