Vivid Electromech Raises Rs 37 Cr from Anchor Investors Ahead of IPO Launch

• Vivid Electromech secured over Rs 37 crore from anchor investors on Tuesday, a day before its IPO opens on NSE Emerge.
• The company allocated 6,68,880 shares at Rs 555 per share to nine entities, totaling approximately Rs 37.12 crore.
• The Rs 130.54 crore IPO will be open for subscription from March 25 to March 30, with a price band of Rs 528-555 per share.
• Proceeds will fund a new manufacturing unit in Ambernath, debt repayment, working capital, and general corporate purposes.
• The new facility aims to boost production capacity, efficiency, and enable larger projects, reducing timelines and improving cost efficiencies.