Initial public offer of up to [*] equity shares of face value of Rs. 10 each ("Equity Shares") of Avtar Steel Limited ("Company") for cash at a price of [*] per equity share ( Including a share premium of [*] per equity share) ("Offer Price") aggregating up to [*] Crores ("Offer") comprising a fresh issue of up to [*] equity shares of face value of Rs. 10 each aggregating up to Rs. 585.00 Crores by the company ("Fresh Issue") and an offer for sale of up to 5,000,000 equity shares of face value of Rs. 10 each ("Offered Shares") aggregating up to Rs. [*] Crores ("Offer for sale") comprising up to 5,000,000 equity shares of face value of Rs. 10 each by Sumit Jindal ("Promoter Selling Shareholder"). The offer shall constitute [*]% of the post-offer paid-up equity share capital of the company.
The company, in consultation with the book running lead managers, may consider further issuance of specified securities, by way of private placement(s), preferential allotment(s) or any other mode as may be permitted under the applicable law, aggregating up to Rs. 117.00 Crores, prior to filing of the red herring prospectus with the roc. The pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the book running lead managers. if the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the fresh issue, subject to compliance with rule 19(2)(b) of the scrr. The pre-ipo placement, if undertaken, shall not exceed 20% of the size of the fresh issue. prior to the completion of the offer and allotment pursuant to the pre-ipo placement, the company shall appropriately intimate the subscribers to the pre-ipo placement, that there is no guarantee that the company may proceed with the offer or the offer may be successful and will result in listing of the equity shares on the stock exchanges. further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if undertaken) shall be appropriately made in the relevant sections of the red herring prospectus and prospectus. The company shall report any pre-ipo placement to the stock exchanges, within 24 hours of such pre-ipo placement (in part or in entirety).
The face value of equity shares is Rs. 10 each. The offer price is [*] times the face value of equity shares. the price band and the minimum bid lot will be decided by the company.