EmmforceAutoTech’s Rs54-cr IPO set to open on Apr 23

New Delhi: Auto components maker EmmforceAutoTech Ltd on Friday said it will raise Rs 54 crore through its initial share sale opening for public subscription on April 23. The Panchkula-headquartered company’s initial share sale comprises a fresh issue of 54.99 lakh equity shares with a face value of Rs10 each. The issue, with a price band of Rs93-98 per share, will open for public subscription during April 23-25. The bidding for anchor investors will be open for a day on April 22, the company announced. At the upper end of the price band, the auto components maker will raise Rs54 crore through its maiden public issue. Post the completion of the IPO, shares of the company will be listed on the BSE SME platform.