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Rajani on $2.2m on Madhya Pradesh Today IPO on NSE Emerge SME platform

“Madhya Pradesh Today Media has filed draft red herring prospectus with National Stock Exchange, for its initial public offering (IPO). The IPO is likely to open for subscription around last week of September, the company said in its release. The company intends to raise Rs 14.16 crore through public issue of 21,46,500 equity shares at a price of Rs 66 per share. The issue would constitute 47.01 percent of the post Issue equity share capital,” reported Moneycontrol. The issue period for the listing was September 19th-21st and it was a 100% fixed price issue.

Rajani Associates acted as the sole legal advisors on the issue and for Madhya Pradesh Today and led by its advisory team partner Sangeeta Lakhi, domestic capital markets department head Sulakshna Sinha and associate Rashi Rajani. This is one of the first SME IPOs of the firm and the transaction involved legal diligence of Madhya Pradesh Today and drafting certain chapters of the prospectus filed with the Emerge Platform of the NSE.

Mark Corporate Advisors Private Limited was the Lead Manager to the issue.

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