Pennar Engineered Building Systems' IPO to open on 25 August 2015
Pennar Industries announced that its subsidiary, Pennar Engineered Building Systems, will open its initial public offer on 25 August 2015, which consists of a fresh issue aggregating up to Rs. 58 crore and an offer for sale of up to 5,516,141equity shares of the Company of face value of Rs 10 each (Equity Shares) by Zephyr Peacock India Fund III, Zephyr Peacock India III Fund, Usha Ramani Potluri, Vikram Chachra and Eight Finance (the Issue) at a price band of Rs 170- Rs 178. The Issue closes on 27 August 2015.The Issue proceeds will be used for repayment/prepayment, in full or part, of certain working capital facilities availed by the Company, financing the procurement of infrastructure (including software and hardware) for the expansion of design and engineering services of the Company and for general corporate purposes.
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