Shriram EPC, one of the leading service providers of integrated design, engineering, procurement, construction and project management services for renewable energy projects, process and metallurgical plants and municipal services sector projects throughout India and one of India's leading 250 KW wind turbine generator manufacturers, is opened for subscription with its initial public offering (IPO) of 5,000,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The price band has been fixed between Rs 290 and Rs 330 per equity share. The issue will close for subscription on February 1, 2008.
 
The issue will constitute 11.66% of the fully diluted post-issue paid-up capital of the company. The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
 
The objects of the issue are to invest in its subsidiary and associate companies, fund expenditures for general corporate purposes and to achieve the benefits of listing on the Stock Exchanges.

Shriram EPC undertakes most of its Engineering, Procurement and Construction (EPC), and wind turbine generator (WTG) projects on a turnkey basis, in which it provides customised solutions from conceptualization to engineering and manufacturing to commissioning to meet the specialised needs of its public and private sector clients.

The company provides integrated turnkey solutions for bio-mass based power plants, bio-ethanol production plants, process and metallurgy plants (including thermal power plants), water and wastewater treatment plants, water and sewerage infrastructure and pipe rehabilitation.
 
The WTG business has been focused on developing, manufacturing, erecting and commissioning 250 KW (WTG) and is currently developing megawatt-class WTGs through one of its subsidiaries and associate Companies. It has completed wind energy projects in the WTG business across India and also internationally in Zambia and France.
   
The global co-ordinator and book running lead manager to the issue is Kotak Mahindra Capital Company Limited and the book running lead manager is ICICI Securities Limited. The co-book running lead manager is Motilal Oswal Investment Advisors Private Limited.

Source : MoneyControl