Bangalore: Bedmutha Industries, a steel wire manufacturer in western India, is entering the capital market today with an initial public offering (IPO) of 9 million equity shares of 10 each. The company has fixed the price band at 95 to 102 for each equity share. Through the public offer, which closes on October 1, the company plans to raise 860 - 920 million, depending on the price discovered. Bids can be made for 65 equity shares and in multiples of 65 shares thereafter. The offer constitutes around 42.80 percent post issue. According to independent analyst SP Tulsian, networth and debt of the company, as on March 31, 2010, stood at 265 million and 950 million respectively, leading to a debt-equity ratio of 3.6:1. Post-issue, this ratio will reduce to less than 1. In FY 2010, consolidated sales were higher by 12 percent to 1.64 billion and the growth in the net profit was 73 percent to 12.19 crore. At the offer price band of 95-102, the stock quotes at 16.4-17.6 times its FY 2010 earnings. Keynote Corporate Services and Ashika Capital are the book running lead manager for the issue.