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IPO

Packaging material maker Uma Converter files IPO papers

Mint  

Uma Converter, a manufacturer of flexible packaging material, has filed preliminary papers for its Initial Public Offering (IPO) with the Securities and Exchange Board of India (Sebi). The offer comprises fresh issue of equity shares aggregating up to INR 36 crore and outstanding before the issue constituting 1,46,94,286 equity shares. GYR Capital Advisors is the Book Running Lead Manager to the Issue. The net proceeds of the issue will be used towards upgrading its manufacturing facility in Timba, Gujarat and repayment or prepayment of unsecured loans. The company reported a net turnover of INR 90.14 crore and INR 104.39 crore for the years 2018 and 2019, respectively. Done Deals