IPO
Precision steel hardware parts maker Liotech to raise Rs.36-Cr on NSE-SME platform
Rajkot-based Liotech Industries plans to raise Rs.36-Cr through an initial public offering (IPO) on the NSE SME platform. The company will issue 11.22 lakh shares at Rs.321 per share. Wealth Mine Networks has been appointed as the lead manager for the transaction.Liotech makes precision hardware structures and accessories, including door kits, hinges, hooks, aldrops, locks, and handles. The firm maintains a portfolio of over 150 hardware and engineering products serving the housing, infrastructure, and industrial sectors.The company plans to use the net proceeds from the IPO for capital expenditure towards acquiring machinery, repayment of loans, funding working capital requirements, and meeting general corporate purposes.
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