Automotive element producer Belrise Industries Ltd.’s preliminary public providing is scheduled to open on Wednesday.
The value band for the IPO has been set within the vary of Rs 85 to Rs 90 per share. Bids might be made for at least 69 shares, after which in multiples thereof.
The IPO, which can be open until Friday, will increase Rs 2,150 crore by way of a contemporary concern of shares, as per the purple herring prospectus. The corporate intends to make use of internet proceeds from the difficulty in the direction of compensation of excellent borrowings, and for common company functions.
Belrise Industries filed the papers for its IPO with the capital markets regulator on Nov. 19. The corporate’s promoters embody Shrikant Shankar Badve, Supriya Shrikant Badve and Sumesh Shrikant Badve.
Axis Capital Ltd., HSBC Securities and Capital Markets (India) Pvt., Jefferies India Pvt., and SBI Capital Markets Ltd. are the book-running lead managers for the difficulty, whereas Hyperlink Intime India Pvt. is the registrar.
The fairness shares are proposed to be listed on each the BSE and Nationwide Inventory Change.
