SADBHAV ENGINEERING: ON A FORWARD MOMENTUM (is tapping the capital markets with an initial public offering of 29 lakh equity shares).

(From India Business Insight)

Sadbhav Engineering Ltd (SEL) is tapping the capital markets with an initial public offering (IPO) of 29 lakh equity shares of face value Rs10 each in the price band of Rs165-185 to be decided through a 100 percent book building process. SEL expects to raise Rs55.46 crore from the IPO. Of this, Rs35 crore will be invested as equity participation in the Mumbai-Nashik Expressway, Rs4 crore will be utilised as margin money for acquiring capital equipment and Rs16.46 crore will be used to meet working capital requirements.

The post-issue equity will be 109 lakh equity shares.

The minimum bid that will be accepted will be …