Hilton Metal to raise Rs 38 cr through IPO
Hilton Metal Forgings on Tuesday said it intends to raise Rs 38 crore through its initial public offering (IPO) to part finance its expansion programmes.
By PTI |
MUMBAI: Hilton Metal Forgings on Tuesday said it intends to raise Rs 38 crore through its initial public offering (IPO) to part finance its expansion programmes.
The company has filed the Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchnage Board of India (Sebi) for the proposed IPO, it said in a release here.
Hilton Metal plans to invest Rs 48 crore for setting up a new plant and machinery, expanding the existing plant and putting up new buildings for fostering larger manufacturing units.
The company has secured Rs 10 crore as Term Loan from the State Bank of Hyderabad, it said.
Hiltaon Metal currently produces 11,100 MTA fo forgings a year, which would go up to 24,900 MTA post-expansion, it said.
ADVERTISEMENT
The issue price has been fixed in the range of Rs 60 to Rs 70.Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
