By | September 4, 2016

 

Bharat Wire Ropes' IPO to hit Dalal Street

The IPO would conclude on March 22, according to latest information available with the Securities and Exchange Board of India (Sebi).

Bharat Wire Ropes will hit the capital markets on March 18 to raise Rs 70 crore through an initial public offering (IPO).

The IPO would conclude on March 22, according to latest information available with the Securities and Exchange Board of India (Sebi).

Bharat Wire Ropes, a speciality wire ropes manufacturing company, aims to raise Rs 70 crore through the issue. The offer would also include reservation of equity shares worth Rs 3.5 crore for subscription by eligible employees.

Proceeds of the issue would be utilised for setting up a manufacturing plant at Chalisgaon, Maharashtra and for other general corporate purposes.The issue is being managed by Intensive Fiscal Services and BOB Capital Markets.

Since the beginning of 2016, three firms – Quick Heal Technologies, TeamLease Services and Precision Camshafts – have already hit the Dalal Street, while the public offer of Healthcare Global Enterprises Ltd (HCG) will hit the capital market on March 16.

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