Gokaldas Exports today fixed a price band of Rs 375-425 per sharefor its forthcoming initial public offering (IPO) to raise up to Rs132.81 crore.The company is planning to use the IPO proceeds to set up new factories and repay working capital loans. While the new factories would cost the company an estimated Rs 45.6 crore, modernisation and expansion plans would cost Rs 20 crore. The working capital loans of the company stands at Rs 30 crore.The IPO would be for 31.25 lakh shares of Rs 10 each, and constitutes 18.8% of the fully diluted, post-issue paid-up capital of the company.The issue will open for bidding on March 30, 2005 and close on April 6.While Enam is the book running lead manager to the issue, Karvy isthe Registrar.
