V-Guard Industries files IPO papers

V-Guard Industries is planning an initial public offer of 76,00,000 equity shares of Rs 10 each, at a premium to be decided through 100 per cent book building process.

The issue will constitute 25.46 per cent of fully diluted post issue paid-up capital.

The Kerala-based company, engaged in the manufacturing and marketing of electrical and electronic products, proposes to use the proceeds for setting up facilities for cable manufacturing in Coimbatore and Uttranchal; enameling plant at Coimbatore; development and pilot production plants for water heaters, fans and pumps at Himachal Pradesh and Coimbatore; service and distribution centres at Bangalore, Hubli and Vijaywada.

The book running lead manager to the issue is Anand Rathi Securities.