BGR Energy IPO in band of Rs 425-480/shr

BGR Energy Systems, a supplier of systems and equipment for the power, oil and gas, petrochemical and process industries, has a fixed a price band of Rs 425-480 per share for its initial public offering (IPO) scheduled to open on December 5.

The company will issue 9.1 million equity shares of Rs 10 each in the IPO.

The proceeds of the issue, which will close on December 12, would be utilised to augment long-term working capital requirements, expand production capacity by setting up additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purpose, the company said in a statement. 

SBI Capital Markets, Kotak Mahindra Capital, UBS Securities India and CLSA India are the book running lead managers for the issue.