Bharatiya Global filed offer documents with SEBI

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Bharatiya Global filed offer documents with SEBI
Bharatiya Global Infomedia Limited has filed the red herring prospectus with SEBI to issue an initial public offering of 6,720,000 equity shares of face value of Rs 10 each.

This issue is being made through a 100% Book Building Process wherein not more than 50% of the Issue to Public shall be available for allocation on a proportionate basis. 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder shall be available for allotment on a proportionate basis to QIBs and Mutual Funds.

Further, not less than 15% of the Issue to Public shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Issue to Public shall be available for allocation on a proportionate basis to Retail Individual Bidders. The book running lead manager to the Issue is Almondz global securities ltd.

The object of the issue is to setting up of our Corporate office at Noida & Branch Office at Mumbai, purchase of owned Corporate office at Noida & relocation of branch office at Mumbai upgradation of digital post production studio and investment in IT division, Expansion of R&D technology centre, Repayment of bank borrowings, Meeting long term working capital requirements, Meeting general corporate purposes and Meeting Issue Expenses.

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