Engineering firm Power Mech Projects' nearly 4.27-million share offering will open from subscription on Friday. The company has priced its issue in the range between Rs 615 and Rs 640 per share.
Nearly half of the issue is offer for sale by existing investors including IL&FS Trust Company. The IPO constitutes around 29 per cent of the fully diluted post issue paid-up capital. Power Mech issue will remain open till August 11.
Kotak Mahindra Capital Company, IIFL Holdings and Motilal Oswal Investment Advisors are the investment banks handling the issue. Last week, Syngene International's IPO was garnered 32 times led by strong demand from institutional investors.
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