Shriram EPC IPO on Jan 29 to raise Rs 165 cr

Mumbai, Jan 24 (UNI) Shriram EPC, an engineering procurement and construction service provider, today said it will raise about Rs 165 crore through an initial public offer (IPO) The company will enter the capital market with an IPO of 50 lakh shares on January 29. For the issue which will close on February 1, the price band has been fixed between Rs 290 and Rs 330 per equity share. The proceeds will be invested in its subsidiary and associates to fund expenditures for general corporate purposes, the company said here today.

The issue will constitute 11.66 per cent of fully diluted post-issue paid-up capital of the company. Offer includes at least 60 per cent of the total equity shares for the qualified institutional buyers, 10 per cent for non-institutional bidders and 30 per cent for the retail bidders.

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