SIRCA Paints' Rs 78-cr IPO to open on May 16
11/05/2018 00:32
SIRCA Paints India said it has fixed a price band of Rs 151-160 per share for its initial public offering through which it is estimated to raise Rs 78 crore, reported PTI.

The company's initial public offer (IPO) will open on May 16 and close on May 18, SIRCA Paints said in a statement.

The company's IPO committee has finalised allocation of up to 48,69,600 equity shares of face value of Rs 10 for cash at a price band of Rs 151–160 per share.

At the upper end of the price band, the firm is expected to raise Rs 77.91 crore. The shares will be listed on NSE's Emerge platform.

Proceeds of the issue will be utilised to finance the expenditure of plant development; purchase of plant and machinery; and to meeting working capital requirements.