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M and B Switchgears IPO subscribed over 1.4 times
The 50-lakh equity shares' IPO of Transformer manufacturer M and B Switchgears has received bids for more than 70 lakh shares. It has subscribed 1.41 times, as per data available on NSE website.
The 50-lakh equity shares' IPO of Transformer manufacturer M and B Switchgears has received bids for more than 70 lakh shares. It has subscribed 1.41 times, as per data available on NSE website.
The company is engaged in manufacturing distribution, power, furnace and special purpose transformers.
M and B intends to use funds (Rs 93 crore at higher end of price band of Rs 180-186/share) for setting up new grid connected 4 MWp solar photovoltaic power plant at Gagorni village, Rajghar district in Madhya Pradesh.
