Galactico IPO Opens on 24th Sep 2019

Galactico IPO Opens on 24th Sep 2019

Galactico IPO

Galactico Corporate Service Ltd is incorporated in 2015. The company provides diversified financial services. It has two subsidiaries which are Instant Finserve private Ltd and Seven Hills Beverages Ltd. The company has announced its IPO as a Galactico IPO. It is scheduled for subscription on 24th Sep 2019. 

Galactico IPO Details

 Issue Open  Sep 24, 2019 – Sep 27, 2019
 Issue Type  Fixed price Issue
 Size  1,608,000 Equity shares of Rs 10 ( aggregating up to Rs 3.70 cr)
 Fresh Issue  300,000 equity shares of Rs 10 (aggregating up to 0.69cr)
 Offer for Sale  1,308,000 equity shares of Rs 10 (aggregating up to Rs 3.01 cr)
 Face Value  Rs 10 per equity share
 Issue Price  Rs 23 per equity share
 Market Lot  6000 shares
 Min Order Quantity  6000 shares
 Listing At  BSE SME

It is raised about Rs 3.07 crore through an IPO. The size of the issue is 1,608,000 equity shares. The offer comprises a fresh issue of 300,000 equity shares aggregating up to 0.69cr and an offer for sale of 1,308,000 equity shares aggregating up to Rs 3.01 crore. 

As of the draft prospectus, the IPO will close on 27th Sep 2019. The face of the issue stayed at Rs 10 per equity share. The fixed price band of the issue is Rs 23 per equity share. The performance of the IPO will manage by Aryaman Financial Services Limited. 

It is a fixed price type of issue. The market lot of issue fixed at 6000 shares and a minimum order quantity at 6000 shares. The issue is proposed to be listed on the SME platform of BSE. Shares of the IPO reserved for qualified institutional buyers, non-institutional investors, and high net worth investors. 

Objects of the Issue

As of the draft prospectus, the company will utilize net proceeds raised from the issue towards the repayment of unsecured loans and funding expenditure for general corporate purposes.

Promoter Holding

 Pre Issue Share Holding  100 %
 Post Issue Share Holding  71.94%

Galactico IPO Subscription Status

Day Date NII  RII  Total
 1  Sep 24, 2019 18:49  1.76x  0.06x  0.91x
 2 Sep 25, 2019 18:49  1.76x  0.32x  1.04x
 3  Sep 26, 2019 18:49  1.76x  0.46x  1.11x
 4 Sep 27, 2019 17:19  1.76x  0.56x  1.16x

Shares Offered

 NII  RII  Total
 762,000  762,000 1,524,000

Listing Details

 Listing Date  Tuesday, October 15, 2019
 BSE Script Code  542850
 Listing in  MT
 ISIN  INE492Z01018
 Issue price  Rs 52 per Equity Share
 Face Value  Rs 10 per Equty Share

Listing Day Trading Information

 BSE SME
 Issue Price  Rs 52.00
 Open  Rs 55.00
 Low  54.00rs
 High  Rs 57.70
 Last Trading  Rs 56.60
 Volume  1,138,00

IPO Prospectus Documents

Draft Prospectus 

Red Herring Prospectus 

Galactico IPO Registrar

Bigshare Services Pvt Ltd
   1st Floor, Bharat Tin Works Building,
   Opp. Vasant Oasis, Makwana Road,
   Marol, Andheri(E), Mumbai – 400 059

Phone: +91-22-6263 8200
Email: [email protected]
Website: http://www.bigshareonline.com

Disclaimer: This post is just information about the IPO. It does not give any advice or recommendation. Please read the offer document carefully and consult your advisor before investing.

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