Dixon Tech sets price range for up to $94 million IPO next week

MUMBAI (Reuters) – Consumer electronics maker Dixon Technologies (India) Ltd will sell shares in a price range of 1,760 rupees to 1,766 rupees in its initial public offering set to open on Sept.6, a public notice said on Tuesday.

The IPO will raise about 6 billion rupees ($93.9 million) at the upper end of the price range.

The company is selling new shares to raise up to 600 million rupees, while some of its shareholders are planning to sell just over 3 million shares in the offer that closes on Sept.8.

Indian investment banks IDFC Bank, IIFL Holdings, Motilal Oswal and Yes Securities are managing the IPO.

($1 = 63.9350 Indian rupees)

(Reporting by Swati Bhat and Devidutta Tripathy; Editing by Amrutha Gayathri)

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