MUMBAI, November 25, 2016 /PRNewswire/ —
Issue Opens on November 28, 2016 and Closes on December 5, 2016
BSE-SME listed Majestic Research Services and Solutions Ltd. has priced its Follow-On Public offer at a price band of Rs. 106-114 to raise Rs. 10 crore through book-built issue.
The company has received nod from the Registrar of companies along with all necessary approvals for the FPO, following which the issue will open on Monday, November 28, 2016 and close on Monday, December 5, 2016.
The proceeds of the offer will be deployed in funding working capital requirements among others.
The company, which got listed on the SME platform in July 2015, will achieve the distinction of being the first company on SME platform to come up with a follow-on offer in the next few weeks.
In June last year, the company had offered 11,20,000 equity shares of the face value of Rs. 10 at an issue price of Rs. 12.75 each to raise Rs. 1,42,80,000.
For the six month period which ended in September 30, 2016, the company reported 118.7% growth in its net profit to Rs. 1.69 crore over the corresponding period last year, driven by increase spending by fast-moving consumer goods companies. Revenue for the first half period ended September 30, 2016 rose to Rs. 9.47 crore, up 75.6% on year.
For the year-end March 31, 2016, the company had posted a net profit of Rs. 1.9 crore on revenue of Rs. 11.13 crore with earnings per share of Rs. 5.
Pantomath Capital Advisors Private Ltd is the lead manager to the issue.
About Majestic Research Services and Solutions Ltd:
MRSS India relies exhaustively on usage of technology for data acquisition offering reliability, validity and faster turnaround times to its clients. The company has wide range of offerings such as eye tracking, mobile analytics, video analysis, facial recognition, digital tracking, online communities, neuroscience, emotional analysis, automated audience measurement, sensory sciences, etc. It is India’s 1st and only listed Market Research Company, also a member of MRSI and DIN (Digital Insight Network – Global). It is the subsidiary of Majestic Market Research Support Services Limited, – One of Asia’s largest full service market research firm. MMRSS is a member of ESOMAR, QRCA, MRA, etc. with presence in 18 countries across Middle East and Asia Pacific region.