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IPO

Event mgmt co Navoday Enterprises' Rs.46-Cr IPO to open on 14 June

Mint  

Navoday Enterprises Ltd, a marketing and event management company, is set to open its initial public offering on 14 June with a price band fixed at INR 20 apiece. The firm is looking to raise nearly INR 46.08 crore and the issue will close on 17 June. About 1.2 million shares of INR 24 lakh will be reserved for market makers and rest of the INR 43.68 crore will be called as net issue. Inventure Merchant Banker and Sattlite Corporate Service are the lead managers to the issue. The proceeds from the issue will be used for working capital requirements and general corporate purposes.