18 companies are going to bring their IPO in the new week. One of these names is Army Infotech. The company's Rs 300 crore public issue will open on September 23 and close on September 25. In which 80 lakh new shares will be issued. It is an IT infrastructure solutions and managed services company. It is the government, corporates; It provides end-to-end technology solutions in multiple sectors such as banking, financial services and insurance and education. The company is also into retail sales and renewable energy business. The promoters of the company are Kiritkumar Chimanbhai Patel and Riddish Kiritbhai Patel and Ami Riddish Patel. The price band per share for the IPO is Rs. 350 to Rs. 375 and the lot size is 40 shares. Anchor investors will be able to bid on the issue on September 22. The allotment will be finalized on September 28 after the closing of the IPO. The company's shares are likely to be listed on NSE and BSE on September 30. Khandwala Securities Limited and Safran Capital Advisors Private Limited are the book running lead managers for the issue of Army Infotech. Registrar is Cameo Corporate Services Limited. 25 percent of the IPO is reserved for qualified institutional buyers, 52.50 percent for retail investors and 22.50 percent for non-institutional investors.
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