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.