New Delhi, Aug. 24 -- Shanti Inorganics, a manufacturer and supplier of sulphur-based inorganic chemicals, has announced the price band for its IPO. The issue is scheduled to open on Monday, August 31, and will remain open for bidding until Wednesday, September 2.

The company aims to raise Rs.47.23 crore at the upper price band, with its equity shares proposed to be listed on the NSE Emerge platform. The issue comprises 5,691,200 equity shares with a face value of Rs.10 each, offered at a price band of Rs.79- Rs.83 per equity share.

The net proceeds from the IPO will be utilised for part-funding the capital expenditure for setting up a new manufacturing facility at Bavla, Ahmedabad, Gujarat. The proposed facility will manufacture sodium...