Endurance Tech sets price band for up to $175 million IPO

Endurance Technologies, an Indian auto parts maker, has set a price band of 467-472 rupees a share for its initial public offering of shares next week that could raise as much as 11.61 billion rupees ($175 million), the company said on Wednesday.

The share sale will begin on October 5 and run until October 7.

Actis Components and System Investments Ltd is selling 19.3 million shares while promoter Anurag Jain will dilute his stake by selling 5.3 million of his shares, the filing said. Together the two will sell 24.6 million shares in the IPO.

The public offer will constitute a total up to 17.5 per cent of the fully diluted post-offer paid-up equity share capital of the company.

Axis Capital and Citi are the book running lead managers for the public issue.