Gravita India , a manufacturer of lead metal is planning to enter the capital market with an initial public offering (IPO) of 36 lakh equity shares on November 1 .The gravita india IPO will close on November 3. The company is aiming to raise more than Rs 40 crore at a price band of Rs 120-125 a share.Retail Investors flush with refunds from Coal India IPO are expected to invest their money in this issue.
Gravita India plans to utilise the proceeds from the issue for setting up an additional manufacturing facilities at Jaipur and a new facility at Maharashtra. It will also use the proceeds for investment for setting up overseas operations at Sri Lanka, Senegal and Honduras.With this international expansion Gravita India is expected to soon become a market leader and exporter of lead metal which has many industrial uses.
Part of proceeds from the IPO will also be used for setting up manufacturing facilities in other countries such as Australia, Belarus, Chile and Mexico.Keynote Corporate Services Ltd is the book running lead manager for the IPO.
The company is engaged in the business of manufacturing of lead metal by recycling from scrap and through smelting.It has a subsidiary Gravita Exim, which provides solutions and consultancy services on engineering and design for the secondary lead companies.
Application forms for Gravita India IPO are available with all leading brokers.