Hi-Tech Lubricants is finally all set for IPO 6-7 January 2016, as a first steps towards going public. The initial offer of 21.75 million shares is for high net worth individuals and institutions which will be followed by public portion of 7.25 million shares.
The famous product of Hi-Tech Lubricants Limited (HTTL) is ZIC brand. The Chairman of HTTL, Mr Shaukat Hassan, held a prebook building road show for increasing awareness and information among the masses for the coming IPO.
HTTL expects raising 1 billion from this subscription and the money will be utilized in setting up retails outlets in all major cities of Pakistan which will trigger a new era of revenue and profit for the company.
The company has set Rs. 37 as floor price for book building. It is expected that the book building price of HTTL will settle around Rs. 50 and over subscription in book building is predicted.