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( As on 04/09/2017 00:21) Dixon Tech, Bharat Road Network to launch IPOs this week

Two companies -- Dixon Technologies and Bharat Road Network -- are headed to the market with their initial share sale offers this week to raise an estimated Rs 1,200 crore, reported PTI.

The IPOs of both will be open for subscription during September 6-8.

Dixon Technologies, a consumer electronics manufacturer, has fixed a price band of Rs 1,760-1,766 per share for its initial public offering (IPO), through which it aims to raise about Rs 600 crore.

The offer comprises fresh issue aggregating up to Rs 60 crore besides an offer for sale of up to 30,53,675 shares by certain existing shareholders.

At the upper end of the price band, the issue is expected to raise about Rs 600 crore.

Proceeds from the issue will be utilised for setting up a unit for manufacturing of LED TVs at the Tirupati facility, enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgradation of the information technology infrastructure.

Besides, the funds will be used for repayment of loans and general corporate purposes.

IDFC Bank, IIFL Holdings, Motilal Oswal Investment Advisors and Yes Securities are the book running lead managers to the issue.

Bharat Road Network, a Srei Infrastructure Finance initiative, has fixed price band of Rs 195-205 per share for its IPO and aims to raise Rs 600 crore.

The company had said in a statement last week that it "will be launching its IPO of up to 2.93 crore equity shares which is scheduled to open on September 6 and close on September 8 at price band of Rs 195-205 per equity share".

At the upper end of the band, the company is expected to garner Rs 600 crore.

Net proceeds from the issue will be utilised towards advancing of subordinate debt in the form of interest free unsecured loan to its subsidiary, STPL, for part-financing of the STPL Project, among others.

INGA Capital, Investec Capital Services and Srei Capital Markets will manage the IPO.

Both the companies are proposed to be listed on the BSE and the National Stock Exchange (NSE).