Varroc Engineering’s initial public offering (IPO), has opened for subscription today on June 26.

The company has fixed the price band at Rs.965-967 per share and it proposes to raise Rs.1,995 crore from initial public offer. It consists of an offer for sale of 2,02,21,730 equity shares by promoter Tarang Jain (17,52,560 shares), and investors Omega TC Holdings (1,69,17,130 shares) and Tata Capital Financial Services (15,52,040 shares).

Bids can be made for a minimum lot of 15 equity shares and in multiples of 15 equity shares thereafter. Further, the issue will close for subscription on June 28.

Read EquityPandit’s Technical Analysis of Indian Stock Market