M & B Switchgears IPO : Files DRHP with SEBI

by khalid on 27/01/2011 · 0 comments

Indore based M & B Switchgears Private Limited has informed the share market (BSE/NSE) that they have planning to enter the capital market with its maiden public issue of 5,000,000 equity shares of Rs 10 each by diluting 25% stake of the company. The company has filed a Draft Red Herring Prospectus (DRHP) on 21st January 2011 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The IPO launching date is depend on the market conditions as per company sources. M & B Switchgears Limited is a transformer manufacturing company.

The proceeds of the IPO amount would be used by the company to set up 4MWp (Megawatt Peak) solar photovoltaic(PV) power plant at Madhya Pradesh and for other general corporate purpose.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Book running lead manager to the issue is D & A Financial Services Private Limited .

Registrar of the Issue : Bigshare Services

Stay tuned to BelltheBull Blog for more news on M & B Switchgears IPO !

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