Mumbai-headquartered Sellowrap Industries, the auto components manufacturing company, will open its maiden public issue for subscription on July 25, with a price band of Rs 79-83 per share.
The anchor book will be launched on July 24, while the offer will close for the public on July 29. The company will finalise the IPO share allotment by July 30, and its equity shares will be available for trading on the NSE Emerge effective August 1.
Sellowrap aims to raise Rs 30.28 crore via IPO which comprises of solely fresh issue of 36.48 lakh equity shares.
The company manufactures components for the automotive, non-automotive and white goods industries, offering adhesive and non-adhesive processed components.
Of the IPO proceeds, Rs 12.4 crore will be used for purchase of plant & machinery, infrastructure development and other auxiliary equipments. Further, Rs 10 crore will be utilised for company's working capital requirements, and the remainder funds for general corporate purposes.
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Sellowrap competes with two listed entities - Machino Plastics, and PPAP Automotive.
Gretex Corporate Services is acting as the merchant banker for the Sellowrap Industries IPO.
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