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Godrej Agrovet IPO price range at Rs450-460 per share

LiveMint logoLiveMint 26-09-2017 Swati Bhat

Mumbai: Godrej Agrovet Ltd has set a price range of Rs450-460 a share for its initial public offering to raise up to Rs1,160 crore ($177.6 million), according to a public notice on Tuesday.

The animal-feed producer is selling new shares worth up to Rs2,920 crore in the IPO, while its main shareholder Godrej Industries is selling secondary shares of up to Rs300 crore.

A unit of Singapore’s Temasek Holdings will sell up to 12.3 million shares, which at the upper end of the price range would be worth Rs5,660 crore.

Kotak Investment Banking, Axis Capital and Credit Suisse are the banks managing the IPO that runs 4-6 October. Reuters

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