Capital goods manufacturer Pennar Engineered Building Systems has fixed a price band of Rs 170 to Rs 178 for its initial public offering (IPO). The offering will remain open between August 25 and August 27.
The IPO comprises of fresh issue of shares to raise about Rs 58 crore and sale of another 5.5 million shares by existing shareholders, by investors including Zephyr Peacock, Usha Ramani Potluri, Vikram Chachra and Eight Finance. At the top end of the price band, the IPO size works out to Rs 155 crore. Shares of parent company Pennar Industries gained over a per cent on Friday.