Tata Capital-backed Varroc Engg ups IPO size, looking $1.9 billion valuation

INDORE, India - June 20, 2018 - PRLog -- Tata Opportunities Fund-backed auto components maker Varroc Engineering Limited plans to go public and is eyeing a valuation of about Rs 13,036 crore (USD 1.9 billion) through an IPO (Initial Public Offering) that will open on June 26, 2018 and closes on June 28.

The Book Running Lead Manager of the isisue namely, Citigroup Global Markets India, Kotak Mahindra Capital, Credit Suisse Securities and IIFL Holdings Limited.

The prime intent of the offer is to enhance the visibility of the company and gaining benefits of stock listing on the Exchanges. Through the Initial public offer promoter and investors will divest 15% stake. The Promoter will offload up to 18.00 lakh shares, while Singapore-based Omega TC Holdings Pte Limited will sell 1.69 crore shares and Tata Capital Financial Services will offload 16.00 lakh shares.

Varroc Engineering Limited was incorporated in May 1988; it is the 6th largest global exterior automotive lighting manufacturing company and one of the top three independent exterior lighting systems.

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