The price band for the IPO is set between ₹163 to ₹172 per share.
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 IPO will involve a fresh issue of 1.55 Crore equity shares, with no offer-for-sale (OFS) component.
Akash Bhansali, Rohit Kothari, and Madhusudan Kela have each invested in IGREL Renewables through their own organisations.
Notable 52-week highs on the Sensex are recorded by ICICI Bank, Bharti Airtel, and Sun Pharma.
The price band for the IPO is set between ₹249 to ₹263 per share.
The proceeds from the IPO will be used for funding ongoing projects, acquiring land for new real estate developments, and general corporate purposes.
It also identified significant dues in customs, service tax, and goods and services tax (GST) as "disputed."
According to the announcement, further negotiations are taking place about financing green energy corridors, wind turbine production, and the EV ecosystem, including charging infrastructure.
The company stated that funds will be raised through private placement in one or more tranches over a set time period.
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