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Last Updated : Jun 19, 2018 01:16 PM IST | Source: Reuters

Varroc Engineering Rs 1,955-cr IPO to open on June 26

The IPO comprises sale offer of up to 18 lakh shares by promoter Tarang Jain, about 1.69 crore shares by Omega TC Holdings Pte Ltd and up to 16 lakh shares by Tata Capital Financial Services Ltd.

Auto parts manufacturer Varroc Engineering has set a price range of Rs 965-967 a share for an initial public offering (IPO) that will open on June 26, according to a public notice on Tuesday.

At the upper end of the range, the IPO will raise about Rs 1,955 crore ($287.46 million), the notice added.

The IPO comprises sale offer of up to 18 lakh shares by promoter Tarang Jain, about 1.69 crore shares by Omega TC Holdings Pte Ltd and up to 16 lakh shares by Tata Capital Financial Services Ltd.

Kotak Mahindra Capital, Citigroup Global Markets India, Credit Suisse Securities (India) are global co-ordinators and bookrunners for the offer, which closes on June 28.

($1 = 68.0100 Indian rupees)
First Published on Jun 19, 2018 12:18 pm
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