Solapur based, Precision Camshafts (PCL), one of the world's leading manufacturer and supplier of camshafts has come out with initial public offer (IPO) to raise funds in the range of Rs 4.05 billion to Rs 4.10 billion to fund its expansion plans. 

The issue opens on January 27 and closes on January 29. The offer consists of fresh issue aggregating up to Rs 2,400 million and an offer for sale of up to 9,150,000 shares, of face value Rs 10 each.

The bid lot is 80 equity shares and in multiples thereof and the company has set a price band of Rs 180 to Rs 186 a share.

The book running lead managers to the issue are SBI Capital Markets, HDFC Bank and IIFL Holdings. The registrar to the issue is Link Intime India.  The equity shares being offered are proposed to be listed on the National Stock Exchange of India and BSE.

Precision Camshafts is a one of the world's leading manufacturers and suppliers of camshafts (critical engine component, in the passenger vehicle segment). The company supplies over 150 varieties of camshafts for passenger vehicles, tractors, light commercial vehicles and locomotive engine applications.