Vigneshwara to raise Rs 67 cr through IPO

New Delhi, June 1: Home textile exporter, Vigneshwara Exports Ltd (VEL), is planning to come out with a public issue of 47.6 lakh shares to raise Rs 67 crore at a price band of Rs 121 to Rs 140 per equity share of Rs 10 each, through a book building process.

The issue opens on June 7 and closes on June 13, with Karvy Investors Services Ltd as its Book Running Lead Managers for the issue.

VEL also has a Rs 200 crore textile processing and weaving centre in the pipeline at Vapi in Gujarat.

''The construction of our plant in Vapi is halfway and part of the money raised will go for this. The new plant will provide full fledged facilities for weaving, processing, cutting, sewing and packing,''VEL Director Mahendra Poddar told reporters here.

VEL, the largest exporter of bed linen to Europe, owns 70 per cent in Vigneshwara Ltd (UK), a marketing subsidy.

UNI