Delhi-based material handling equipment provider Watrana Rentals on Friday fixed the price band at Rs 232–245 per share for its upcoming initial public offering (IPO).
The IPO will open for public subscription on November 19 and close on November 23, while the anchor book for institutional investors will open for one day on November 18.
The company aims to raise Rs 120 crore through its maiden public issue at the upper end of the price band. The IPO comprises an entirely fresh issue of 49.02 lakh shares.
Promoted by Sanjeev Kumar Watrana and Rajeev Kumar Watrana, the company provides material handling equipment, including forklifts, reach trucks and powered pallet trucks, on a rental basis. It is also engaged in trading new and used material handling equipment, as well as batteries used in material handling equipment (MHE).
The company caters to various industries, including automotive, tyres, beverages, glass, paper, logistics and warehousing.