Thursday, 29 November 2012

Stock broker SMC Global files for IPO


Financial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each.

The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc.

As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said.

SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012.

"The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to prospectus.

Tata Securities Limited and IL&FS Capital Advisors Limited are the book running lead managers to the issue.

Equity shares of the company are currently listed on the Delhi Stock Exchange Limited, Ludhiana Stock Exchange Limited, Calcutta Stock Exchange Limited, Ahmedabad Stock Exchange Limited and the Guwahati Stock Exchange Limited.

Sandip Ginodia
ABHISHEK SECURITIES

We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit :www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .



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10 comments:

  1. HI,

    I HAVE 13000/- PHYSICAL SHARES OF DIFFERENT COMPANIES I REQUEST YOU TO KINDLY LET ME KNOW WHAT IS THE PROCESS TO SELL.

    U CAN REACH ME AT THE DETAILS MENTIONED IN UNDERSIGNED.

    NEHA JAIN
    9899154859
    BVIMR.NEHA@GMAIL.COM

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    Abhishek Securities

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