Gravita India Ltd. is manufacturer of lead metal is now entering capital market with an initial public offering (IPO) of 36,00,000 (3.6 million) equity shares. IPO opens on 1 November 2010 and will close on 3 November 2010. The company aims to raise Rs.43.2-45 crore at a price band of Rs 120-125 a share.
The company will use this amount for setting up an additional manufacturing plant at Jaipur and new facility at Wada, Maharashtra.
We recommend to subscribe this IPO for decent listing gains.