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Shriram EPC enters capital market

CHENNAI: Shriram EPC, provider of integrated design, engineering, procurement, construction and project management services, with its headquarters in Chennai, has entered the capital market with an initial public offer of five crore equity shares of Rs. 10 each through 100 per cent book-building process.

The price band has been fixed between Rs. 290 and Rs. 330 per equity share.

The issue is open from January 29 to February 1.

At the lower-end of the price band the issue is expected to fetch Rs. 1,450 crore and at the upper-end of the price-band the proceeds will be Rs. 1,650 crore. Addressing presspersons here on Tuesday, R. Sundara Rajan, Director, Shriram Group, said the objects of the issue are to invest in the company’s subsidiary and associate companies, fund expenditure for general corporate purposes and to list the shares on the stock exchanges. The company undertakes engineering, procurement and construction and wind turbine generator projects on a turnkey basis..

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