UPDATE 1-Lumax Auto to raise 225.9 mln rupees in IPO

Newswire

(Adds details) MUMBAI, Nov 28 (Reuters) - Auto parts maker Lumax Auto Technologies Ltd. said on Tuesday it plans to raise 225.9 million rupees at 75 rupees a share through an initial public offer. The 3.01-million-share issue, representing 25.09 percent of post-issue capital, would open on Dec. 14 and close on Dec. 21, the company said in a statement. The funds would be used to set up an automotive chassis unit near the western city of Pune and to expand existing facilities, Lumax said.

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