Sandhar Technologies plans to raise Rs 522 cr via IPO

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Mumbai | Published: March 13, 2018 1:41 AM

Sandhar Technologies, a Gurgaon-headquartered auto components maker, is planning to raise up to Rs 521.48 crore through an initial public offering (IPO).

Sandhar Technologies, IPO, equity shares, GTI Capital BetaSandhar Technologies, a Gurgaon-headquartered auto components maker, is planning to raise up to Rs 521.48 crore through an initial public offering (IPO).

Sandhar Technologies, a Gurgaon-headquartered auto components maker, is planning to raise up to Rs 521.48 crore through an initial public offering (IPO). The price band for its public offer has been set at Rs 327 to Rs 332 per share. The IPO is scheduled to open on March 19 and close on March 21. Bids can be made for a minimum of 45 equity shares and in multiples of 45 thereafter. The offer will help raise Rs 300 crore through fresh issue of shares and Rs 212.48 crore through an offer for sale by GTI Capital Beta, based on the upper band price. GTI Capital Beta, the private equity shareholder of the company will sell 64 lakh equity shares as part of the offer. The company proposes to utilise the net proceeds of the fresh issue for repayment of debt and for general corporate purposes. ICICI Securities and Axis Capital are the book running lead managers to the offer. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

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