New Delhi, Aug. 4 -- Bhadora Industries launched its initial public offering (IPO) on Monday, August 4. The SME IPO will remain open for subscription till Wednesday, August 6.

The Rs.55.62 crore Bhadora Industries IPO is entirely a fresh issue of 54 lakh shares. This means that the entire proceeds from the share sale will be received by the company. The funds raised will be used for the establishment of a new manufacturing facility, funding working capital needs and general corporate purposes.

Bhadora Industries IPO price band is set at Rs.97 to Rs.103 per share. Investors can apply for the IPO in lots of 1,200 shares. The retail investors need to apply for at least two lots, requiring an investment of Rs.2,32,800.

Unistone Capital is ...