V-Guard Industries IPO files DRHP with SEBI

November 26, 2007

Electrical and Electronic products manufacturer, V-Guard Industries IPO will soon hit the markets after the company receives approval from SEBI. For this regard the company has recently filed its DRHP with SEBI for its Initial Public offering IPO.

V-Guard plans to offer 80 lakh equity shares of Rs. 10 each at a premium to be decided  later through 100% book building process. Employees reservation is fixed at 4 lakh equity shares, so the net issue to the public after deducuting the employees reservations is 76 lakh equity shares.

V-Guard IPO  will constitute 25.46 % of the fully diluted post issue paid-up capital of the Company  and the BRLM to the IPO is Anand Rathi Securities Ltd . Registrar of the V-Guard Industries IPO is Intime Spectrum Registry Ltd.

The company is a famous electronic brand in the southern part of India and is known in the manufacturing and marketing of electronic stabilisers, Electric motors, Cables and water heaters. The company has a good dealer network all over India with over 105 distribution centers serving to over 7500 retailers. V-guard Industries plans to use the funds raised from the IPO for setting up manufacturing units at Coimbatore and Uttaranachal, and for establishing of other manufacturing units.

More information and updates regarding the V-Guard IPO Subscription and the Allotment will be updated here when the IPO begins, so do visit iponewsdaily.com regularly.

Posted in Indian IPOs