New Delhi, Aug. 11 -- Retail supermarket chain operator, Patel Retail, on Monday, August 11, announced the price band for its upcoming initial public offering (IPO) at Rs.237 to Rs.255 per share.

The issue, set to open for subscription next week on August 19, will close on August 21. Patel Retail IPO is a mix of fresh share sale of 217.21 crore and an offer for sale of Rs. Rs.25.55 crore, with the company looking to raise nearly Rs.243 crore via the initial share sale.

Patel Retail IPO lot size has been set at 58 shares. Retail investors can apply for one lot of the issue for a minimum investment amount of Rs.13,746.

The company plans to use the fresh proceeds from the IPO for repayment/prepayment, in full or part, of certain borrowing...