The first initial public offering for the month of November of - a manufacturer of lead metal - Gravita India has opened for subscription today. The company is offering 36 lakh equity shares through IPO, which will close on November 3.

The company aims to raise Rs 43.2-45 crore at a price band of Rs 120-125 a share.

Gravita India IPO opens for subscription

Gravita intends to utilise the proceeds of the issue for setting up an additional manufacturing facilities at Jaipur and new facility at Wada, Maharashtra. It will also use the proceeds for investment in overseas ventures at Sri Lanka - Navam Lanka Limited, Senegal - Pagrik Senegal SA and Honduras - Gravita Honduras SA. More Details>>