New Delhi, Nov. 4 -- The initial public offering (IPO) of Shreeji Global FMCG kicked off for bidding on Tuesday, November 4, and will close on Friday, November 7.

The SME IPO is looking to raise Rs.85 crore via the book-built issue, which is entirely a fresh share sale of 0.68 crore shares. The issue is priced in the range of Rs.120 to Rs.125 apiece. Investors can apply for the Shreeji Global FMCG IPO in lots of 1000 shares.

Retail investors need to apply for at least two lots, requiring an investment of Rs.2,50,000 at the upper end of the price band.

The company plans to use the proceeds from the IPO for funding capex. It looks to allocate Rs.5.67 crore for factory premises, Rs.29.01 crore for plant, machines and cold storage, and Rs....