• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Price band has been fixed at Rs 125-145

NEW PLANS: The FIEM Industries CMD, Mr J.K. Jain, along with the Director, Mr Pravin Kumar, at a press conference in the capital on Thursday. - Kamal Narang

New Delhi , Sept. 14

The Haryana-based FIEM Industries Ltd (FIL), manufacturer of automotive lighting and rear-view mirrors, plans to raise about Rs 51-59 crore through an initial public offering to fund expansion plans. It plans to offer 41 lakh equity shares with a face value of Rs 10 each through book building route.

Each equity share will be priced between Rs 125 and Rs 145. The company will raise about Rs 51 crore at the lower end of the price band and about Rs 59 crore at the upper end. It opens on September 21 and closes on September 27.

The issue will finance the expansion plans of the company. FIEM is setting up a 100 per cent EOU in Hosur, Tamil Nadu, and another facility in Nalagarh, Himachal Pradesh.

"We will enjoy a logistical advantage with our Hosur plant as the Chennai port is close by," said Mr J.K. Jain, Chairman and Managing Director, FIL.

The issue comprises a reservation of four lakh equity shares of Rs 10 each for eligible employees and a net issue to the public of 37 lakh shares. The issue will constitute 34.58 per cent of the total post-issue paid-up equity capital of the company. ILFS Investsmart Ltd is the lead manager to the issue.

Its major business comes from the two-wheeler segment. It has four manufacturing units located in Haryana, Tamil Nadu and Karnataka.

More Stories on : IPOs | Automobile Components

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
UTI MF plans a slew of new launches

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line