V-Guard Industries IPO to hit capital market on Feb 18
V-Guard Industries, engaged in the manufacturing and marketing of electrical and electronic products, will tap the capital market on Feb 18 with its initial public offer of 80,00,000 shares.
By INDIATIMES NEWS NETWORK |
MUMBAI: V-Guard Industries, engaged in the manufacturing and marketing of electrical and electronic products, will tap the capital market on Feb 18 with its initial public offer of 80,00,000 shares. Book building price band of the Rs 10 share has been fixed at Rs 80-85 per share.
The net issue to the public comprises of 76,00,000 shares and 4,00,000 shares have been reserved for the employees. The issue will constitute 26.80 per cent of the post issue paid up capital. The company will raise Rs 68 crore at the upper end of the price band.
CRISIL has assigned Grade "3/5" to the IPO.
Capital raised from the issue will be deployed to set up cable manufacturing facilities in Coimbatore and Uttaranchal, enameling plant at Coimbatore, development and pilot productions plants for water heaters, fans and pumps at Himachal Pradesh and Coimbatore, service and distribution centers at Bangalore, Hubli and Vijaywada.
The net issue to the public comprises of 76,00,000 shares and 4,00,000 shares have been reserved for the employees. The issue will constitute 26.80 per cent of the post issue paid up capital. The company will raise Rs 68 crore at the upper end of the price band.
CRISIL has assigned Grade "3/5" to the IPO.
Capital raised from the issue will be deployed to set up cable manufacturing facilities in Coimbatore and Uttaranchal, enameling plant at Coimbatore, development and pilot productions plants for water heaters, fans and pumps at Himachal Pradesh and Coimbatore, service and distribution centers at Bangalore, Hubli and Vijaywada.
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