Onelife Capital Advisors IPO to open on Sept 28

Financial service company Onelife Capital Advisors (OCAL) is going to tap capital market with its initial public offering of 33.5 lakh equity shares of Rs 10 each on September 28, by diluting 25.07% stake.

The company aims to raise Rs 33.50-36.85 crore through the issue at price band of Rs 100-110 per share.

The issue will close on October 4, 2011. Bids can be made for a minimum of 50 equity shares and in multiples of 50 shares thereafter.

Onelife Capital Advisors is a financial service company offering investment banking services and portfolio management and equity broking services. Company is focused on nurturing small and medium sized enterprises (SME) companies to source capital in various forms.

OCAL offers a range of services like initial public offerings, rights issue, buyback of shares, follow on public offering, qualified institutional placements, open offers and other equity linked financing.

Company plans to spend IPO money for purchasing of corporate office at Mumbai (with cost of Rs 7 crore); development of portfolio management services (at cost of Rs 11.58 crore); and brand building activities (with cost of Rs 7.7 crore).

Atherstone Capital Markets Limited is the book running lead manager to the issue.