India, Nov. 28 -- Contract manufacturing company Aequs has set the price band for its IPO, set to open on December 3 (Wednesday), at INR 118 to INR 124.

The anchor bidding will take place on Tuesday (December 2), while the issue will close on December 5. The shares are expected to list on the exchanges on December 10.

The public issue will comprise a fresh issue of shares worth up to INR 670 Cr and an offer for sale (OFS) of up to 2.03 Cr shares. Earlier this month, the company raised INR 144 Cr in a pre-IPO placement led by SBI Fund Management, with participation from DSP Mutual Fund and Think Investments.

At the upper end of the price band, the IPO will value the company at INR 8,316 Cr (about $930 Mn). Total issue size would be arou...