B Right Real Estate IPO opens today; check details here

The public issue of B-Right Real Estate Limited has opened for subscription today, 30 June. The bidding for the company’s initial public offering (IPO) will remain open till 5 July. The company aims to raise approximately Rs 44.36 crore through its public issue. The money raised will be used by B-Right Real Estate for its working capital requirements and general corporate purposes. Investors can bid for a minimum of one lot or 800 shares. The shares of B-Right Real Estate Limited have been priced at Rs 153 per equity. The B-Right Real Estate stock has a face value of Rs 10. The IPO consists of a fresh issue of 2,899,200 shares. The shares of the real estate company will tentatively be allocated on 8 July. The B-Right Real Estate Limited stock is expected to be listed on the BSE SME on 13 July. Purva Sharegistry (India) Private Limited is the registrar of the issue, while the lead manager is Gretex Corporate Services Private Limited. According to the prospectus, 50 percent of the IPO is reserved for retail investors, while the remaining will be divided between Qualified Institutional Buyers and Non-Institutional Investors. “However, if the aggregate demand from the Retail Individual Applicants is less than 50%, then the balance Equity Shares in that portion will be added to the non-retail portion offered to the remaining investors including QIBs and NIIs and vice-versa subject compliance with Regulation 253(2) of the SEBI ICDR Regulations and subject to valid Applications being received from them at or above the Issue Price”, states the prospectus. B-Right Real Estate Limited is an integrated construction and real estate development company. The company is focused on construction and development of residential and commercial projects, in and around Mumbai. It earned a profit of 72.89 lakh on a turnover of Rs 1.16 crore for the period of 1 April 2021 to 31 December 2021. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.