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Mumbai, July 5 Bharat Earth Movers Ltd has fixed the issue price of its follow-on issue at Rs 1,075 per share.

The follow-on issue, which opened for subscription on June 27 and closed on July 3, was subscribed over 30 times. The company had set a price band of Rs 1,020 to Rs1,090 per share for the FPO.

Funds raised through the issue are to part-finance BEML’s Rs 340-crore project to expand its metro coach facility in Karnataka, set up a windmill, build a research centre and for voluntary retirement scheme (VRS).

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