Transwarranty Finance puts price band of Rs 48-55 for its IPO

Mumbai, Jan 15 (UNI) Transwarranty Finance Ltd has fixed the price band of its initial public offering (IPO) between Rs 48 to Rs 55 that is scheduled to open on January 23.

The Company proposes to offer 60 lakh equity shares of Rs 10 at a premium, constituting 42.86 per cent of the post issue paid up capital, is to fetch Rs 33 crore at the upper end of the price band, a Transwarranty press release here said.

The issue is being made to raise funds for expansion and increasing the scale of operations, geographic expansion through opening of regional offices, making strategic investments or acquisitions of companies engaged in the business of financial services and banking. It proposed to list the equity shares on the BSE and NSE. IDBI Capital Market Services in the Sole Book Running Lead manager to the issue.

UNI