Punj Lloyd IPO in Rs 600-700 band

Punj Lloyd has fixed a price band of Rs 600-700 per share for its initial public offering (IPO) to raise Rs 642.11 crore.

An official release issued today said the company has filed the red herring prospectus with the Registrar of Companies.

The issue is for 91,72,937 equity shares of Rs 10 each comprising a fresh issue of 83,55,174 equity shares and an offer for sale of 8,17,763 shares.