Shriram EPCL enters capital market with IPO
Chennai,
Jan
29:
The
city
based
Shriram
EPC
Limited,
India's
leading
250
KW
wind
turbine
manufacturer
today
announced
entry
into
the
capital
market
with
an
initial
public
offer
(IPO)
of
50,00,000
equity
shares
of
Rs
10
each
for
cash
at
a
price
to
be
decided
through
100
per
cent
book
building
process.
Addressing a press conference here, Mr Arun Dugal, Chairman said the price band has been fixed between Rs 290 and Rs 330 per equtiy share and the issue would open for subscription till Februray one, from today. The objects of the issue are to invest in its subsidiary and associate companies, fund expenditures for general corporate purposes and to achieve the benefits of listing on the stock exchanges.
He said the company undertakes most of its Engineering, Procurement and Construction (EPC) and wind turbine genrator projects on turnkey basis, providing customised solutions from conceptualisation to engineering and manufacturing to commissioning to meet specialised needs of its public and private sector clients.
The company also provides integrated turnkey solutions for bio-mass based power plans, bio-ethanol production plants, process, metallurgy plants and water and wastewater treatment plants, he said.
UNI