SEL Manufacturing To Float IPO Today

New Delhi: To part finance the expansion of its capacity, textile firm SEL Manufacturing Company Ltd plans to foray the capital markets on July 26 with a public issue of 41.38 lakh equity shares of Rs 10 each via 100 per cent book building process. The issue comprises reservation of 2.07 lakh equity shares for permanent employees, leaving a net issue to the public of 39.31 lakh equity shares. The issue closes on July 31 and the price band has been fixed at Rs 80 to Rs 90 per equity share of Rs 10 each. The total outlay for expansion for garment manufacturing, knitting and spinning is Rs 184.57 crore. The company has fully joined hands with debt component of Rs 103.79 crore under the TUFS. An individual investor has also taken part to the pre-IPO placement of the company by subscribing to 5 lack equity shares at a price of Rs 75 per equity share.