Gabion Technologies India Secures Rs 8.2 Crore From Anchor Investors Pre-IPO

Gabion Technologies India, a geotechnical engineering firm, has raised Rs 8.2 crore from anchor investors before its IPO on the BSE's SME segment. The firm plans to use the fresh funds for expanding working capital and purchasing plant and machinery. The IPO is set for January 6-8.

Gabion Technologies India, a leading firm in geotechnical engineering and infrastructure solutions, announced it has successfully raised Rs 8.2 crore from anchor investors prior to its initial public offering in the SME section of the BSE.

A total of 10.22 lakh equity shares have been allocated to eight entities, including major financial institutions like HDFC Bank, 360-ONE group, and Neo Asset Management. The shares are priced at Rs 81 each, amounting to Rs 8.28 crore.

Set to open on January 6 and close on January 8, the Rs 29.16-crore IPO consists entirely of a fresh issue of 36 lakh shares within a price band of Rs 76-81 per share. The company intends to use the proceeds for working capital, capital expenditure for new machinery, and general corporate purposes, with listings planned for BSE's SME platform.

(With inputs from agencies.)