PLR’s Initial Public Offering (IPO) launched in June-2021 aims to raise a total of Rs. 1.95 Bn in 2 tranches. The first through the issuance of 100 Mn shares at Rs. 10.40 to raise Rs. 1 Bn, with an option to issue a further 87.5 Mn at the same price bringing the total to Rs. 1.95 Bn. The total 187.5 Mn shares amounts to a 20% stake in the Company.
Within a few months of the listing, the company also intends to make a dividend payout of as much as 40% of the Rs. 989 Mn profit after tax, recorded by PLR in the FY 2020/21 (The first interim dividend amount of Rs. 375 Mn was paid to shareholders by 2nd August 2021.