Global Space Technologies Limited’s  SME IPO to open on July 26, 2017 with price band of Rs. 66 per equity share of the Company each of face value of Rs. 10 each

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MUMBAI, July 24, 2017: Mumbai Based Global Space Technologies Limited (“Company”), a SAAS based Software Product Company and an Enterprise Mobility Solutions Provider company will be launching its SME initial public offering (“IPO” or the “Issue”) which is scheduled to open on July 26, 2017 and close on July 28, 2017, with a price band of Rs.66 per Equity Share of face value of Rs. 10 each of the Company (the “Equity Shares”).


The IPO comprises of an Issue of up to 30, 34,000 Equity Shares. 1,54,000 equity shares of Rs. 10 each will be reserved for subscription by market makers to the issue (the “Market Maker Reservation Portion”).   The issue less the market maker reservation portion i.e. Issue of 28, 80,000 Equity Shares of `10 each is hereinafter referred to as the “Net Issue”


The Company proposes to utilize the Net Proceeds of the Issue for (i) Expenditure on Research and Development, (ii) Advertising and sales promotion, (iii) Funding incremental working capital requirements; and (iv) General Corporate Purposes.

All potential investors shall participate in the Issue through an Application Supported by Blocked Amount (“ASBA”) process providing details about the bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) for the same. For details in this regard, specific attention is invited to section titled “Issue Procedure” beginning on page 179 of this Prospectus. In case of delay, if any in refund, our Company shall pay interest on the application money at the rate of 15% per annum for the period of delay. 

The issue and the net issue will constitute 26.48% and 25.14%, respectively of the post issue paid-up equity share capital of the company.

Choice Capital Advisors Private Limited is the Book Running Lead Managers (“BRLM”) to the Issue. The Registrar to the Issue is Link In time India Private Limited. 

The Equity Shares of Global Space Technologies Limited are proposed to be listed on SME Platform of BSE.