M and B Switchgears IPO

M and B SwitchgearsTransformers producer M and B Switchgears has planned to enter capital market for financing its forth-coming solar photovoltaic power plant, which has a public issue of 50 lakh equity stocks and face value of Rs 10 each.

Company has filed DRHP with SEBI. The IPO issue will comprise 25percent of the postissue paidup equity stock capital of firm.

The firm is involved in production of distribution transformers, furnace transformers, power transformers and special purpose transformers. Company is in the business of producing transformers for greater than 3 decades.

M and B continues to grow its capability of production 550 transformers to 5,109 per year. Its current annual manufacturing capacity in terms of KVA is 75,000 KVA of transformer each month on single shift basis.

more updates come later……..

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