BGR Energy Systems plans to enter capital market with its initial public offering of 9,136,000 shares of face value of Rs 10.

It is a 100 % book building issue. The price-band of the issue has been fixed at Rs 425-480 per share. The issue will open on 5 December 2007 and close on 12 December 2007.

At the lower price band, the company would raise Rs 388.28 crore and at the cap-price it would garner Rs 438.52 crore.

BGR Energy Systems plans to utilise the net proceeds to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East.

The 9.14 million share issue would constitute a fresh offer of 4.32 million shares and sale of 4.82 million shares by promoters.

BGR Energy Systems, a supplier of systems and equipment for the power, oil and gas, petrochemical and process industries.

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