Upcoming IPOs, June 10 -- Winding and conductivity products manufacturer Vidya Wires and Jaipur-based Mangal Electrical Industries have received approval from markets regulator Securities and Exchange Board of India (SEBI) to raise funds via initial public offering (IPO).

Vidya Wires IPO comprises of a fresh issue of equity shares aggregating up to Rs.320 crores by company and an offer for sale aggregating up to 1,00,00,000 equity shares by the promoter selling shareholders with face value of Rs.1 each equity share.

The company intends to use the net proceeds to finance capital expenditures for establishing a new project through its subsidiary, Alcu, to repay or prepay, either fully or partially, specific outstanding borrowings, and to ...