EkCrore.net :: Mandhana Industries IPO

April 22, 2010
Mandhana Industries has set a price band of Rs 120-130 a share for its initial public offer and will be tendering around 83 lakh equity shares.

The company will raise Rs 108 crore at the upper band of the issue price. The issue will open for subscription on April 27 and close on April 29, 2010.

Issue proceeds will be used for setting up of new garment manufacturing facility at MIDC, Tarapur Maharashtra; expansion of yarn dyeing and weaving facility at MIDC, Tarapur, in the State of Maharashtra, and for working capital.

Mandhana is a vertically integrated textile and garment manufacturing company having presence across operations ranging from yarn dyeing to garment manufacturing.

Promoters' holding will be reduced to 60.47% post issue.

The book running lead managers to the issue are Axis Bank and Edelweiss Capital Ltd. Link Intime India Pvt Ltd is the registrar.