Evinix Accessories' IPO fixes price band at Rs 100 - 120 per share

Mumbai, Feb 7 (UNI) Evinix Accessories, manufacturers of fashion accessories and apparels, enters the capital market with an initial public offering of 35 lakh equity shares of Rs 10 each and the price band has been fixed between Rs 100 to Rs 120 per equity share.

The issue, being made through 100 per cent book-building process, will open on February 12 and close on February 14, a company release said. It would constitute 32.71 per cent of the fully diluted post issue paid-up equity capital of the company, the release added.

Evinix will deploy the net proceeds of the issue to expand the capacities of its Faridabad unit. It will spend Rs 16.62 crore on the expansion of its acquired manufacturing facility at Noida SEZ.

Both expansions are estimated to be completed by March 2008.

The company's IPO is lead managed by Allianz Securities and the shares will be listed on BSE and NSE.

UNI