The lock-in period of Global Surfaces, Sai Silks (Kalamandir), JSW Infrastructure, Platinum Industries and Exicom Telesystems opened on Monday with the stocks of all five companies ending the session in green
Proceeds worth Rs 150 crore from the issue will be used for capital expenditure, Rs 350 crore will be used to fund long-term working capital requirement
The maiden public issue is entirely an offer for sale (OFS) of 1.8 crore equity shares by promoters - Rajesh Loomba and Aditya Loomba - with no fresh issue component.
Market sources suggest that the continuous decline in OYO’s valuation is because of ambiguity over its listing because of poor appetite for the stock at prevailing valuations