Pace e-commerce ventures ltd - Latest News Update, Information, Photos & Videos on Pace e-commerce ventures ltd at Lokmat Times

Mr. Shaival Gandhi, Managing Director & CFO, Pace E-Commerce Ventures LtdCompany to issue 64.59 lakh Equity shares of Rs. 10 face value at a price of Rs. 103 per share; Propose to list on BSE-SME ExchangeHighlights:-· Public issue opens for subscription from September 29 and closes on October 4· Minimum lot size for application is 1,200 shares; Minimum IPO application amount Rs. 1.23 lakh· Funds raised through the issue will be used to fund expansion plans including acquisition plant & machinery, meeting working capital requirements, general corporate purpose for business activities etc· Company owns an e-commerce portal, www.cotandcandy.com offering a large range of products· Company has acquired manufacturing and distribution licenses of some of the popular and biggest brands in the Kids Entertainment Industry.· For the FY21-22 company reported revenues of Rs. 10.54 crore and Net Profit of Rs. 54 lakh· Interactive Financial Services Ltd is the lead manager of the issue.Mumbai, September 29, 2022: Public issue of Pace E-Commerce Ventures Ltd – One stop solutions for children’s furniture, bedding, housewares and essentials is scheduled to open for subscription on September 29. Company received approval to launch its public issue on BSE SME Exchange Platform. Company is planning to raise Rs. 66.53 crore through initial public offering to fund its expansion plans including capital expenditure towards acquisition of plant and machinery, meeting working capital requirements, general corporate purposes for the company’s business activities. Interactive Financial Services Ltd is the lead manager of the issue. Public issue will close on October 4.The initial public offering will comprise a fresh Issue of 40 lakh equity shares and Offer for sale of 24.59 lakh equity shares of face value Rs. 10 each at a price of Rs. 103 per share (including a premium of Rs. 93 per equity share) aggregating Rs. 66.53 crore. Minimum lot size for the application is 1,200 shares which translates in to Rs. 1.23 lakh per application. Retail allocation for the IPO is 50%. Post issue promoter group holding in the company will be 65% from 91.12% before the public issue. Proceeds of the public issue will be utilised to fund company’s expansion plans. Rs. 9.73 crore to be utilised towards acquisition of plant and mahinery, Rs. 20.86 towards long-term working capital requirement and Rs. 10 crore towards general corporate purposes.Commenting on the development, Mr. Shaival Gandhi, Managing Director & CFO, Pace E-Commerce Ventures Ltd said, “Founded in 2015, Cot & Candy has come a long way from its beginnings in Pune, India. When we first started out, our passion to offer the utmost in quality, comfort, safety and style, took us to different parts of the world to curate a range so that Cot & Candy can offer products that are not only safe and comfortable, but also stylish, fun and built to adapt to your children’s needs. We now serve customers all over the country, and are thrilled that we’re able to turn our passion into our own online store and offer you a wonderful experience. We are hopeful that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality products.”Incorporated in 2015, Pace E-Commerce Ventures Limited offers children’s furniture, bedding, housewares and essentials. The company’s product portfolio includes Beds and Cribs, Seating and Lounging, Storage & Organisers, Playroom Furniture, Bins and Baskets, Décor and Accessories, Kids Bedding, Baby Bedding, Baby & Kids Essentials, Dinning Essentials & Homeware, Sports Ride Ons & Outdoor, Art and Craft, Games and Puzzles, Scooters and Ride Ons, Dolls Action figures and soft toys. Registered office of the company is situated in Pune, Maharashtra and corporate office in Ahmedabad, Gujarat.The company owns an e-commerce portal, www.cotandcandy.com offering a large range of products across different categories. The company also started catering to a number of requests for on-demand printing and manufacturing of products for both B2C and B2B Customers. Pace E-Commerce Ventures Limited acquired manufacturing and distribution licenses of some of the popular and biggest brands in the Kids Entertainment Industry.IPO Highlights – Pace E-Commerce Ventures LtdIPO Opens onSeptember 29, 2022IPO Closes onOctober 4, 2022Issue PriceRs. 103 Per ShareIssue Size (No of Shares)64,59,600 SharesIssue Size (Rs. Cr)Rs. 66.53 croreFresh Issue (No of Shares)40,00,000 SharesOffer for Sale (No of Shares)24,59,600 SharesLot Size1,200 SharesRetail Quota30,63,600 equity shares – 50%Non-Retail Quota30,63,600 equity shares – 50%Listing onSME Emerge Platform of BSE LtdPost this IPO, company’s paid-up equity capital of Rs. 18.53 crore. will stand enhanced to Rs. 22.53 crore. The issue constitutes 28.67% of the post-IPO paid-up equity capital of the company. For the FY21-22 company reported revenues of Rs. 10.54 crore and Net Profit of Rs. 54 lakh. As on 31 March 2022, Net worth of the company was Rs. 26.49 crore, Reserve & Surplus of Rs. 8.17 crore and Total assets of Rs. 32.42 crore.If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Pace E-Commerce Ventures Ltd, NewsFOLLOW

Pace e-commerce ventures ltd, Latest News

Business :Pace E-Commerce Ventures Ltd’s Rs. 66.53 crore public issue on BSE SME platform opens for subscription on September 29

Mr. Shaival Gandhi, Managing Director & CFO, Pace E-Commerce Ventures Ltd Company to issue 64.59 lakh Equity shares of ... ...