GPT Infraprojects Ltd., the flagship of GPT Group, is engaged in civil and infrastructure projects and manufactures railway concrete sleepers.
The split will be carried out by a Lex Asea distribution to AB SKF shareholders, allowing the new automotive entity to become an independent company.
The company stated that funds will be raised through private placement in one or more tranches over a set time period.
The Northern Arc Capital IPO has a minimum market lot of 57 shares and a ₹14,991 application amount.
The business expects to collect Rs 492.9 crore. The IPO consists of a fresh offering of Rs 400 crore and an offer to sell shares for Rs 92.9 crore.
The price band for the IPO is set between ₹249 to ₹263 per share.
Akash Bhansali, Rohit Kothari, and Madhusudan Kela have each invested in IGREL Renewables through their own organisations.
Arkade Developers received Rs 122.4 crore from anchor investors before the subscription window opened. The IPO was completely subscribed on the first day of bidding.
Notable 52-week highs on the Sensex are recorded by ICICI Bank, Bharti Airtel, and Sun Pharma.
The proceeds from the IPO will be used for funding ongoing projects, acquiring land for new real estate developments, and general corporate purposes.
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