Oriana Power sets IPO price band at Rs 115 to Rs 118 per equity share

Oriana Power has fixed the price band for its initial public offering (IPO) at Rs 115 to Rs 118 per equity share. The energy firm plans to raise around Rs 600 million via the IPO. The public issue will be open for subscription from August 1, 2023 to August 3, 2023. Additionally, the anchor investor portion will be open for subscription on July 31, 2023.
The company will utilise the IPO proceeds to meet its working capital requirement (Rs 230 million), investment in subsidiary companies (Rs 200 million), for capital expenditure (Rs 20 million) and general corporate purposes.