Shri Balaji Valve Components sets IPO price band at Rs 95-100 per share

Shri Balaji Valve Components sets IPO price band at Rs 95-100 per share

Steel products maker Shri Balaji Valve Components on December 22 said it has fixed a price band of Rs 95-100 per share for its Initial Public Offering (IPO). The issue will open for public subscription on December 27 and conclude on December 29, the company said in a statement.

The public issue is entirely a fresh issue of 21.6 lakh equity shares, it said. At the upper end of the prices, the company aims to raise about Rs 21.60 crore from the public issue.

The company's shares are scheduled on the BSE-SME segment. The sole book-running lead manager to the issue is Hem Securities Ltd, while Bigshare Services is the registrar for the IPO.

Proceeds from the issue will be utilised in funding capital expenditure towards the installation of additional plants and machines, meeting working capital requirements, and general corporate purposes. Pune-based Shri Balaji Valve Components is into manufacturing of valve components for industries like power, construction, oil and gas, and pharma.