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Our Bureau

Hyderabad July 10

FIEM Industries Ltd., a manufacturer of automotive lighting and signalling equipment, proposes to enter the capital market with a public issue of 41 lakh equity shares of Rs 10 each, to raise funds to meet its expansion plans.The company has filed draft red herring prospectus (DRHP) with SEBI for a 100-per cent book building process.IL&FS Investments Ltd is the book running lead manager for the issue.The company is setting up an export-oriented unit in Hosur, Tamil Nadu, with technical support agreement with Ichikoh Industries Ltd, Japan, for automotive lamps, rear view mirrors, wiper blade assemblies and signalling equipment.Ichikoh's clients include Nissan, Toyota, Honda, Suzuki and others.

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