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FMCG co Naturo Indiabull to raise Rs.11-Cr on BSE SME

Business Line  

Naturo Indiabull, a Jaipur-based FMCG company, plans to raise INR 11 crore through an Initial Public Offer on the BSE SME. The company will issue 36.4 lakh equity shares of INR 10 each at INR 30 per share. The minimum lot size for application is 4,000 shares and the least investment would be INR 1.2 lakh. The shares will remain open for subscription between August 22 and 24. Finshore Management Services will be the lead manager of the issue. Naturo sells sanitary towels, sanitary napkins, hand sanitisers and other health kits. The company is diversifying to include juices, soaps, shampoos, and medicines. The funds will be used to expand, for working capital and for general corporate purposes. Net Worth and Reserves of the company post issue will stand at INR 23 crore and INR 13 crore, respectively.