HPL Electric & Power's IPO to open from September 22-26
DSIJ Intelligence / 15 Sep 2016
HPL Electric & Power will be opening its IPO for subscription on September 22 to 26. The company has fixed the price band for its Rs 361 crore IPO at Rs 175-202 per share.
HPL Electric & Power will be opening its IPO for subscription on September 22 to 26. The company has fixed the price band for its Rs 361 crore IPO at Rs 175-202 per share. The company has filed its Draft Red Herring Prospectus (DRHP) with SEBI in February for its IPO. The issue is managed by SBI Capital Markets, ICICI securities and IDFC Bank. The stock is expected to list on both the exchanges i.e BSE & NSE.
As per the filing, HPL Electric & Power will be using the proceeds of the issue for repayment of loans, to fund working capital requirements and for other general corporate purposes.
The company makes metering solutions, switchgears, lighting equipment and wires and cables.2016 continues to attract several players big and small, for raising capital on bourses.
GNA axles is expected to list soon on bourses followed by ICICI prudential Life insurance company.
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