Proceeds from the recent difficulty will probably be used for funding capital expenditure of the corporate, cost of debt, and common company functions.
The difficulty would open for public subscription throughout December 20-22 and the anchor e-book will open for a day on December 19, the corporate introduced.
Azad Engineering Ltd on Friday mentioned it has fastened a value band of Rs 499-524 a share for its Rs 740 crore preliminary public providing (IPO).
The difficulty would open for public subscription throughout December 20-22 and the anchor e-book will open for a day on December 19, the corporate introduced.
The Hyderabad-based agency’s IPO includes a recent difficulty of as much as Rs 240 crore and an Offer For Sale (OFS) of fairness shares aggregating as much as Rs 500 crore by a promoter and buyers.
The OFS consists of the sale of fairness shares aggregating as much as Rs 170 crore by promoter Rakesh Chopdar, Rs 280 crore by Piramal Structured Credit Opportunities Fund, and Rs 50 crore by DMI Finance.
Proceeds from the recent difficulty will probably be used for funding capital expenditure of the corporate, cost of debt, and common company functions.
Half of the problem dimension has been reserved for certified institutional patrons, 35 per cent for retail buyers, and the remaining 15 per cent for non-institutional patrons. Investors can bid for no less than 28 fairness shares and in multiples of 28 fairness shares thereafter.
Azad Engineering provides merchandise to international unique gear producers (OEMs) within the aerospace and defence, power, and oil and fuel industries.
The firm’s prospects embrace General Electric, Honeywell International Inc., Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace, and MAN Energy Solutions SE.
The fairness shares of the corporate are proposed to be listed on the BSE and NSE.
