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Consumer electronics and lighting products manufacturer Dixon Technologies (India) has fixed a price band of ₹1,760-1,766 a share for its initial public offering.
The company will raise about ₹600 crore at the upper band of the price range.
In May, sources had told BusinessLine that the company was planning to raise ₹600-650 crore through the IPO.
The IPO will open for public subscription on September 6 and close on September 8.
Fresh issue, OFS The IPO will also pave the way for a partial exit of Motilal Oswal Private Equity, which had invested ₹40 crore in Dixon in July 2008.
The offer comprises a fresh issue of shares of up to ₹60 crore by the company and an offer-for-sale of up to 30.54 lakh shares by selling shareholders.
Noida-based Dixon Technologies will use part of the proceeds from the fresh issue for repayment or pre-payment of certain borrowings. It has total borrowings of about ₹63 crore. It will also use the proceeds to set up an LED TV manufacturing unit at its Tirupati facility.
IDFC Bank, IIFL Holdings, Motilal Oswal Investment Advisors and YES Securities (India) are the book-running lead managers, while Karvy Computershare is the registrar to the issue.
Dixon Technologies proposes to list its shares on the BSE and the NSE.
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