The initial public offer of Tara Chand Logistic Solutions, through which the firm aims to raise over Rs 20 crore, will open on March 13. The public issue is of 37.20 lakh equity shares of face value of Rs 10 each for cash at a price of Rs 55 per equity share aggregating to Rs 20.46 crore, the company said in a release. The issue comprises of 1.92 lakh equity shares aggregating to a little over Rs 1.05 crore reserved for subscription by the market maker of the issue, it added. The initial share sale would close on March 15. Hem Securities is the lead manager to the initial public offer. Based in Mumbai, Tara Chand Logistic Solutions is engaged in providing logistic and supply chain services including transportation and warehousing, equipment rental and steel processing and distribution. Among the firm's major clients are Reliance Industries, Steel Authority of India Ltd, Oil and Natural Gas Corporation, Tata Projects and Hindustan Construction Company Ltd.
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