Nahar Ind to make pre-IPO placement in Nahar Retail

Nahar Industrial Enterprises will make Pre-IPO placement of 15-20% in Nahar Retail, reports CNBC-TV18 quoting Sources.

Nahar Industries is likely to raise USD 30 million via this placement and valued Nahar Retail at around USD 150-200 million.

Nahar Retail announcement is likely to be made in January 2008. ICICI Securities is the banker for Nahar Retail's Pre-IPO Placement.

Nahar Industries management said that they are in talks with various investors for fund raising.