BENGALURU, INDIA – Indian EMS provider Aimtron Electronics' initial public offering is set to open on May 30 and close on June 3.

The IPO's price band is fixed at INR153 to INR161 ($1.84 to $1.94) with a market lot of 800 shares.

The company plans to raise INR87.02 crore ($10.5 million) from the IPO, and said it intends to use the proceeds to repay debt, fund capital expenditures of an additional plant and machinery, meet working capital requirements and for general corporate purpose.

Aimtron provides PCB assembly, PCB design, and complete electronic system manufacturing services for domestic and international manufacturers out of two production facilities in Vadodara and Bengaluru, India. It has 131 employees, and last year posted annual revenue of INR71.6 crore ($8.6 million).

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