Calcutta, Aug. 28: Gujarat-based Deep Industries is coming out with a public issue of 1.13 crore equity at a fixed price of Rs 36 a share. The company, which provides air and gas compression services to oil and gas companies at home and abroad, aims to mop up Rs 40.68 crore, comprising 56.50 per cent of its post-issue capital.

The issue will open on August 29 and close on September 4.

The proceeds will be used to fund expansion plans, working capital needs and brand promotion.

Deep Industries currently has 10 compressor packages ranging up to 2400 horse-power.