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Wednesday, November 28, 2007
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IPO News
Nov 26 2007 5:41PM
BGR Energy sets IPO price at 425-480 rupees/shr

MUMBAI, Nov 26 (Reuters) - Energy equipment supplier BGR Energy Systems Ltd said on Monday it had fixed its initial public offer price in the band of 425-480 rupees a share.

The 9.14 million share issue would constitute a fresh offer of 4.32 million shares and sale of 4.82 million shares by the founders, the company said in a statement.

The offer opens on Dec. 9 and closes on Dec 12. BGR plans to use the money to set up plants in India, China and the Middle East, it said.

SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the lead managers to the issue. (Reporting by Narayanan Somasundaram; editing by Sunil Nair) ) (([email protected]; 91 22 6636 9068; Reuters Messaging [email protected])) Keywords: BGR IPO/

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