Lumax Auto IPO over subscribed
Lumax Auto Technologies' initial public offer (IPO) of 30.12 lakh equity shares of Rs 10 each at a price of Rs 75 per equity share, was over subscribed by 3.4 times.
By PTI |
MUMBAI: Lumax Auto Technologies' initial public offer (IPO) of 30.12 lakh equity shares of Rs 10 each at a price of Rs 75 per equity share, was over subscribed by 3.4 times.
The company would be raising Rs 22.59 crore through a fixed price issue, Lumax said in a release here Tuesday.
The issue proceeds will be utilised for setting up of chassis assembly at Bhosari near Pune, expansion and modernisation of current manufacturing facilities at Chakan, near Pune and Waluj near Aurangabad, it said.
Lumax also plans to modernise its developing centre at Pune's Chinchwad locality, invest in its subsidiary for setting up automotive lighting unit at Pantnagar (Uttranchal), setting up a levelling motor unit and enhancement of infrastructure facilities near Gurgaon and Haryana.
The equity shares would be listed in National Stock Exchange and Bombay Stock Exchange, the release said.
Centrum Capital and S B and T Finance are the lead managers to the issue.
The company would be raising Rs 22.59 crore through a fixed price issue, Lumax said in a release here Tuesday.
The issue proceeds will be utilised for setting up of chassis assembly at Bhosari near Pune, expansion and modernisation of current manufacturing facilities at Chakan, near Pune and Waluj near Aurangabad, it said.
Lumax also plans to modernise its developing centre at Pune's Chinchwad locality, invest in its subsidiary for setting up automotive lighting unit at Pantnagar (Uttranchal), setting up a levelling motor unit and enhancement of infrastructure facilities near Gurgaon and Haryana.
The equity shares would be listed in National Stock Exchange and Bombay Stock Exchange, the release said.
Centrum Capital and S B and T Finance are the lead managers to the issue.
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