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Technofab fixes IPO price band at Rs 240

This article was posted on Jul 12, 2010 and is filed under Press Releases

Technofab Engineering is entering the primary market with an issue of 29.9 lakh shares of Rs 10 each in the price band of Rs 230-240 per share, thereby garnering Rs 71 crore

The issue was open for subscription between June 29 and July 2. The public offering has generated good demand from investors and was subscribed nearly 13 times, with robust participation from HNIs and retail buyers.

Technofab Engineering aims to utilise the proceeds from IPO to meet its long-term working capital requirements and for procurement of construction equipment. Collins Stewart Inga was the sole book running lead manager to the issue.

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