Bharatiya Global Infomedia is entering the capital market with a public issue of 67.2 lakh equity shares of Rs 10 each on July 11, by diluting 42.42% stake.
The company has fixed a price band of Rs 75-82 a share for the issue, which closes on July 14.
Company works with sectors such as information technology security and compliance automation software solutions and technology related to media & entertainment industry with focus on research & development.
Current business operations consist of information technology based solutions-RFID & smart card and digital post production studio.
Issue proceeds are proposed to be used for setting up of corporate office at Noida & branch office at Mumbai; upgradation of digital post production studio & investment in IT division; expansion of R&D technology centre; repayment of bank borrowings; and long term working capital requirements.
The book running lead manager to the issue is Almondz Global Securities Limited and Karvy Computershare Private Limited is the registrar.
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