Vans Electroengineerings Ltd. has opened its SME IPO for subscription on September 29. The company has fixed a price band of Rs.112–118 per share, while the issue size is around Rs.33.98 crore. The bidding window will remain open until October 1, with listing proposed on BSE.
Vans Electroengineerings manufactures components used in railway traction power supply and overhead equipment systems, including products used in railway electrification and metro infrastructure. The entire issue is a fresh issue, with the proceeds planned mainly for working-capital requirements and general corporate purposes.
