MUMBAI (Reuters) - Textiles firm Jindal Cotex Ltd plans to raise up to 934 million rupees through a public offer to foray into specialised textile products, it said on Friday 21 August.

Jindal Cotex infrastructure - Photo: jindalcotex.com

The company plans to issue 12.45 million shares at a price band of 70-75 rupees a share, it said in a statement. The IPO will open on Aug. 27 and close on Sept. 1.

Saffron Capital Advisors Pvt Ltd is the book-running lead manager and up to 50 percent of the issue will be allocated to qualified institutional buyers, it said.

It plans to use the money in its technical textile venture for industrial use, it said.