The auto component-maker Varroc Engg announced INR 1,950 Crore (approx.) initial public offer that opens on 26th June and the price band is INR 965 – 967. This offer consists of a fresh issue of 20,221,730 equity shares for sale by existing investors and promoters.

Let’s have a look at the IPO details:

Issue Open: 26th June – 28th June 2018

Issue Size: 20,121,730 equity shares

Minimum Order Quantity: 15 Shares

Issue Price: INR 965 – 967

Listing at: BSE & NSE

The promoters are Tarang Jain, Tata Capital Financial Services Limited and Omega TC Holdings Pte. Ltd.

About Varroc Engineering:

Incorporated in 1990, Varroc Engineering is Aurangabad based global automotive component manufacturer & supplier of power-trains, body & chassis parts to passenger cars, exterior lighting systems, motorcycle segments, electrical and electronics worldwide.

Varroc Engg is the second biggest Indian Auto component manufacturer and supplier group (Source: CRISIL Research). It has end-to-end capabilities across design, engineering, R&D, manufacturing, testing and supply of numerous products across the business.

Note: Image credit: varrocgroupamd.com