PG Electroplast to raise 121 crore

PG Electroplast to raise 121 crore

Mumbai: PG Electroplast, an electronic manufacturing services provider, has set a price band of 190-210 per share for its initial public offering (IPO) to raise up to 121 crore.

The share sale, which will offer 5.75 million shares, will constitute 35% of the fully diluted post-issue paid-up share capital, the company said in a statement on Monday.

Proceeds from the issue, which will open on 7 September and close on 12 September, will be used to fund expansion, retire debt and meet working capital requirements.

Almondz Global Securities is the sole book running lead manager to the issue.