Autoline Industries fixes price band of IPO between Rs 200-225

Mumbai, Jan 4 (UNI) Autoline Industries has fixed the price band of its initial public offering(IPO) of equity shares between Rs 200 to Rs 225 to mobilise around Rs 75 crore.

The IPO of Autoline, one of the largest Design-Engineering-Mfg(DEM) service providers to the automobile industry in Pune, will open on January 8 and close on January 12, said a company release today.

The proceeds of the issue would be deployed for modernization and expansion of its facilities, besides for setting up a second mass manufacturing unit at Chakan(Pune) which has emerged as preferred destination for major global automobile giants, it added.

The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.

BOB Capital Markets is the Book Running Lead Manager to the issue, while Enam Securities is the syndicate member for the IPO.

UNI