Suntech Infra Solutions Sets IPO Price Band; Announces Listing Plans

Suntech Infra Solutions, a notable B2B construction entity, declared its initial public offering (IPO) price band between Rs 81 and Rs 86 per share on Tuesday, setting the stage for a substantial Rs 44.39 crore market entry.

The IPO, set to open on June 25 and close on June 27, consists of a fresh share issuance totaling Rs 34.18 crore and an offer for sale valued at Rs 10.21 crore. Post-IPO, shares will debut on the NSE's SME platform, according to the company's statement.

Revenue from the IPO's fresh issue aims to bolster working capital and fund capital expenditure on construction equipment, supporting the firm's broad civil construction services for sectors like power, oil & gas, and renewable energy. GYR Capital Advisors is leading the effort as book-running manager.

(With inputs from agencies.)