Voltam Transformers to make IPO offer on August 24

Mumbai, Aug 17 (UNI) Voltamp Transformers Ltd, one of the manufacturers of transformers in India, has proposed to enter the capital market with an initial public offering of 48,83,840 equity shares through book-building process on August 24, this year.

Briefing reporters here today, Chairman&Managing Director Lalitkumar H Patel said the primary ojective of the IPO (initial public offering) was to achieve the benefits of listing of its equity shares and the divestment of shares by the Selling Shareholders. ''We believe the listing will enhance our visibility and also provide liquidity to our existing shareholders,'' he said.

The price band for the IPO has been fixed between Rs 295 to Rs 345 and the issue closes on August 29, this year. The company's equity shares are proposed to be listed on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).

Enam Financial Consultants is the sole book-running lead manager and Intime Sopectrum Registry is the Registrar to the issue.

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