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Fine Organic $89 million IPO to open on June 20


(Reuters) - Indian additives maker Fine Organic Industries Ltd has set a price range of 780 rupees-783 rupees a share for an initial public offering (IPO) that will open on June 20, according to a public notice on Wednesday.At the upper end of the range, the IPO, which closes on June 22, will raise about 6 billion rupees ($88.7 million), the notice said.Fine Organic's founders will sell up to 7.7 million shares through the IPO, comprising a quarter of the post-offer share capital of the company.Edelweiss and JM Financial are the bookrunners for the sale. ($1 = 67.6300 Indian rupees) ...

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First Published: Wed, June 13 2018. 16:13 IST