MUMBAI: V-Guard Industries has raised Rs 65.60 crore by fixing its initial public offering’s issue price at Rs. 82 per share.
The issue has constituted 26.80 per cent of the post issue paid-up capital and the net issue to public constitutes 25.46 per cent of the post issue paid-up capital of the company.
The issue was oversubscribed 2.70 times. The issue received an overwhelming response with the qualified institutional buyers' portion being oversubscribed by more than 1.74 times, the retail portion by 4.24 times and the HNI portion by 2.92 times.
V-Guard Industries has embarked on expansion project to be funded by IPO proceeds. The 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 shares will be listed on Bombay Stock Exchange and National Stock Exchange of India.
The issue has constituted 26.80 per cent of the post issue paid-up capital and the net issue to public constitutes 25.46 per cent of the post issue paid-up capital of the company.
The issue was oversubscribed 2.70 times. The issue received an overwhelming response with the qualified institutional buyers' portion being oversubscribed by more than 1.74 times, the retail portion by 4.24 times and the HNI portion by 2.92 times.
V-Guard Industries has embarked on expansion project to be funded by IPO proceeds. The 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 shares will be listed on Bombay Stock Exchange and National Stock Exchange of India.
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