Hyderabad: Times Green Energy (India), a Hyderabad-based company will launch its IPO on June 16. It has set a target of Rs 4 crore through the IPO. The issue will begin on June 16 and close on June 22. Company has set an issue price of Rs 61 per share.
Aaryaman Financial Services Limited is acting as lead managers for this issue.
The company is promoted by a group of women entrepreneurs. It’s all-women board is headed by its Managing Director Lakshmi. The company has been in the business of farming and has recently entered into the hygiene and safety segments by manufacturing and marketing sanitary napkins and baby and adult diapers. It has built a distributor network to reach nearly 700 retail dealer outlets across Telangana.
The company also has recently forayed into e-commerce with ‘Bharat Bazar’ as its brand name. From Rs 10 lakh turnover in the first year of operations, the company has achieved a turnover of Rs 20 crore in the financial year 2019-20.
The company has plans to utilise the proceeds from the issue to upgrade its corporate office infrastructure, to set up various mini manufacturing units to process or manufacture various products and also for its working capital requirements, a release said.
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