New Delhi: The initial public offering (IPO) of HPL Electric and Power Pvt. HPL Electric has already mopped up Rs108 crore from anchor investors by selling shares at Rs202 apiece. The price band for the Rs361 crore IPO has been fixed at Rs175-202 per share. Proceeds of the issue will be used to repay loans, fund working capital requirements and for other general corporate purposes. HPL Electric makes metering solutions, switchgears, lighting equipment and wires and cables, among others.

Source: Mint September 23, 2016 12:45 UTC