Mumbai: Exide Industries Ltd plans to sell as many as 50 million shares to institutional investors, according to a share sale document filed to the Bombay Stock Exchange. The shares will be sold for at least Rs107.86 each, according to the filing.
IL&FS Transportation plans Rs700 crore IPO
Mumbai: IL&FS Transportation Networks Ltd, a developer of road projects, plans to sell shares at Rs242 to Rs258 each in an initial public offer (IPO) opening 11 March, managing director K. Ramchand said on Monday.
The Mumbai-based company will determine the number of new shares to be sold in the IPO depending on demand, Ramchand said. Trikona Trinity Capital Plc, a UK-based fund, will sell 4.28 million shares in the offer. IL&FS expects to raise Rs700 crore from the sale, including stock being sold by Trikona. The offer closes on 15 March. The firm will use the proceeds to repay half of its Rs1,000 crore debt.