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Wednesday, March 16, 2016

3 IPOs lined up for March, to raise Rs 1,170 cr

Three initial public offering (IPO) by Health Care Global Enterprises, Bharat Wire Rope and Infibeam Incorporation have been lined up before March end to collectively raise close to Rs 1,170 crore from the primary market.

The companies have decided to raise money before the close of the financial year as their approval by market regulator securities and exchange board of India (Sebi) would expire on March 31, and would have to seek fresh approvals based on their last quarter financial performance.

The Bengaluru-based HealthCare Global last week announced opening of its Rs 650 crore (at the upper price band) initial public offering in the price band of Rs 205 to Rs 218 per equity share of Rs 10 face value. The IPO opens on March 16 and closes on March 18.

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