Indian industrial conglomerate BS TransComm has set the indicative price for its IPO in the Rs 257-Rs 266 band (US$5.7-US$5.9) according to Dow Jones citing a newspaper ad.
Last week, it was reported that the company was expecting to kick off its October…
Indian industrial conglomerate BS TransComm has set the indicative price for its IPO in the Rs 257-Rs 266 band (US$5.7-US$5.9) according to Dow Jones citing a newspaper ad.
Last week, it was reported that the company was expecting to kick off its October 6 IPO by issuing about 7.68 million shares.
The IPO, due to close on October 8, will sell 35.1% of the post issue paid-up capital of the company, added Dow Jones. JM Financial will reportedly act as lead manager for the listing, which is expected to raise about Rs 2bn (US$44m).
BS’ main focuses are the telecom, power, and alternate energy sectors, with clients including telcos Vodafone Essar, Aircel and Reliance.
