Beacon Trusteeship IPO to open on May 28

New Delhi: Leading debenture trustee Beacon Trusteeship Ltd on Wednesday said it is aiming to raise a little over Rs32 crore through its initial share-sale opening for public subscription on May 28. The Mumbai-headquartered company has fixed a price band at Rs57-60 per share for the issue and the lot size will be 2,000 equity shares.

The issue will conclude on May 30 and the bidding for anchor investors will open for a day on May 27. Post the successful completion of the IPO, shares of the company will be listed on NSE Emerge, Beacon Trusteeship said in a statement. The IPO comprises a fresh issue of 38.72 lakh equity shares worth Rs 23.23 crore and an Offer for Sale (OFS) of up to 15.48 lakh equity shares to the tune of Rs 9.29 crore.