Euro Multivision, the second largest company engaged in the manufacturing of CDRs and DVDRs, has decided to enter the capital market on September 22.

The company plans to raise about Rs 66 crore through its proposed initial public offer (IPO) of 8.8 million equity shares of Rs 10 each at a price, which will be decided by
100% book-building process.

The proceeds of the IPO would be used to raise resources for the company's photovoltaic solar cell manufacturing unit in a SEZ at Bhachau in Gujarat's Kutch district.

The IPO has been rated `3` by Credit Analysis and Research (CARE), indicating average fundamentals. The offer closes on September 24.

The equity shares are proposed to list both on NSE or BSE. Anand Rathi Advisors is a lead book manager of the issue.