Sonaselection India IPO Opens September 17 At Rs 94-99
· Business · Economic Times, India Infoline
Rajasthan-based fabric manufacturer Sonaselection India Ltd will launch its initial public offering on September 17 with a price band of Rs 94-99 per share. The company aims to raise approximately Rs 141.6 crore through the issuance of 14.3 million fresh equity shares. The anchor investor portion is scheduled to open on September 16, with the full issue closing on September 21. Proceeds will be used to repay bank borrowings and purchase machinery for the company's manufacturing facility in Bhilwara, Rajasthan.
Why it matters
The IPO provides Sonaselection India with capital to reduce debt and expand its manufacturing capacity, offering a new investment opportunity in the textile sector.
Read the original report — Economic Times
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