Aster Silicates, an Ahmedabad-based manufacturer of sodium silicate, plans to raise Rs 53.1 crore through initial public offering (IPO). The price band for the issue has been fixed at Rs 112 -118 and the subscription will be open from June 24 to 28.
The issue will be made through a 100 per cent book building process with the sole book running lead managers, Saffron Capital Advisors, and Sharepro Services as the Registrar.
The capital raised through this issue will be utilised for enhancing the production capacity and expanding the company’s current manufacturing facilities in Jhagadia Industrial Estate, Bharuch, Gujarat.