PME Power Solutions (India) Limited is entering into primary market with an Initial Public Offering (IPO) of 11,400,000 Equity Shares of Rs 10 each. The company has filed draft red herring prospectus (DRHP) papers with market regulator Securities and Exchange Board of India (SEBI) for the same. The company is likely to raise around Rs 300 Crore through the issue. The premium of the issue will be decided through a 100% Book Building Process. The IPO would constitute 25% of the company`s fully diluted post issue paid up share capital. The IPO is likely to hit the market toward the end of this year. PME Power Solutions (India) Ltd. (Formerly Known as PME Transformers (India) Ltd. was established in the year 1988. A completely integrated power solution provider.
The proceeds of the IPO are proposed to be utilized for expansion activities like setting up of manufacturing facilities at Moradabad, in Uttar Pradesh, as well as to repay debts.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
IPO Summary :-
IPO Open : Likely to hit the market toward the end of this year.
IPO Type : 100% Book Built Issue IPO
IPO Size : 11,400,000 Equity Shares of Rs 10 each
IPO Size : Rs 300.00 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs – – Rs – Per Equity Share
Minimum Bid Quantity : Shares (Rs. with 1 Lot) @ upper level of price band
Maximum Bid Quantity : Shares (Rs. with Lots ) @ upper level of price band
Listing At : BSE, NSE
The Book running lead manager (BRLM) to the issue are Edelweiss Capital and Imperial Corporate Finance and Services.
Registrar of the Issue : Bigshare Services Private Limited , Mumbai.
Stay tuned to BelltheBull Blog for more on PME Power Solutions IPO !Google+