MRSS India Announces Initial Public Offering
MRSS INDIA, a leading independent Market Research Agency in India announced a total initial public offering of Rs.1, 42, 80,000 at the issue price of Rs 12.75 each, the face value of the equity shares is Rs 10 each and minimum application size is Rs. 1, 27,500. The issue opens on Tuesday, June 30, 2015 and closes on Thursday, July 2, 2015. Pantomath Capital Advisors (P) Ltd (“Pantomath”), a SEBI registered Category I Merchant Banker, is the sole Lead Manager to the Issue.
This will make MRSSINDIA the only Market Research Company to be listed on BSE (Bombay Stock Exchange). MRSS INDIA relies exhaustively on usage of technology for data acquisition offering reliability, validity and faster turnaround times to its clients. The key promoters of the company, Mr. Sarang Panchal, Managing Director and Raj Sharma, Chairman have deep rooted experience in the said field.
“The Indian Market Research Industry is taking the path that the Software Industry t0ok, as today Indian researchers dominate the global MR space. This is the opportune time for us to enter the capital markets and MRSSINDIA is hoping to pioneer what the Indian software giants did in the 90’s.” stated Raj Sharma.
Sarang Panchal added, “The listing will give all the stakeholders an opportunity to co-own a market research company that will provide greater transparency, better collaboration avenues and access to richer talent.
The proceeds raised through the IPO are to be utilized for procurement of new technology, working capital requirements and issue expenses.