New Delhi, Jan. 22 -- The initial public offering (IPO) of Shayona Engineering kicked off for bidding on Thursday, January 22. The offer is available for public subscription till January 27.

The company, engaged in providing customised solutions for precision castings in special grades, is looking to raise Rs.14.86 crore via the book-building process.

Shayona Engineering IPO is entirely a fresh issue of 0.10 crore shares. The SME IPO's price band is set at Rs.140 to Rs.144 per share. Investors can apply for the offer in lots of 1000 shares, with retail investors required to bid for at least two lots.

Shayona Engineering plans to use the funds raised from the initial share sale for the purchase of plant and machinery for the existing li...