Spice Communications Limited to tap capital markets

Spice Communications Limited is planning for a Public issue of 137,985,000 equity shares of rs. 10 Each of spice communications limited ("company" or "issuer") for cash at a price to be announced later through 100% Book Building process. The issue comprises a net issue to public of 135,985,000 equity shares and a reservation for eligible employees of up to 2,000,000 equity shares at the issue price.

The issue will constitute 20 % of the fully diluted post-issue equity share capital of the company. The net issue would constitute 19.71% of the fully diluted post-issue equity share capital the company.

The Company is considering the private placement of Equity Shares with certain investors (the "Private Placement"), prior to the completion of this Issue. If the Private Placement is completed, the Issue size offered to the public would be reduced to the extent of such Private Placement, subject to a minimum Issue size of 10% of the post Issue capital being offered to the public.

The Equity Shares offered through this issue are proposed to be listed on Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE).

The company's website is Spice Communications Limited

Source : Equity Bulls

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