Precision Camshafts files DRHP with Sebi for IPO
16/03/2015 16:05
Maharashtra-based auto component maker Precision Camshafts has filed draft papers with markets regulator Sebi to float an initial public offer (IPO), reported PTI.
The proposed IPO comprises a fresh issue of equity shares worth Rs 240 crore and an offer for sale of up to 86.40 lakh equity shares, as per the draft red herring prospectus (DRHP) filed with Sebi.
Proceed of the issue will be utilised for establishing a machine shop for ductile iron camshafts at the company's export oriented unit in Solapur, Maharashtra and for other general corporate purposes.
The company plans to get listed on NSE and BSE.
The IPO consists of "a fresh issue... Of equity shares by our company aggregating up to Rs 2,400 million and an offer for sale of up to 8,640,000 equity shares by the selling shareholders," Precision Camshafts said.
SBI Capital Markets Ltd, HDFC Bank Ltd and India Infoline Ltd are the book running lead managers to the issue.
16/03/2015 16:05
Maharashtra-based auto component maker Precision Camshafts has filed draft papers with markets regulator Sebi to float an initial public offer (IPO), reported PTI.
The proposed IPO comprises a fresh issue of equity shares worth Rs 240 crore and an offer for sale of up to 86.40 lakh equity shares, as per the draft red herring prospectus (DRHP) filed with Sebi.
Proceed of the issue will be utilised for establishing a machine shop for ductile iron camshafts at the company's export oriented unit in Solapur, Maharashtra and for other general corporate purposes.
The company plans to get listed on NSE and BSE.
The IPO consists of "a fresh issue... Of equity shares by our company aggregating up to Rs 2,400 million and an offer for sale of up to 8,640,000 equity shares by the selling shareholders," Precision Camshafts said.
SBI Capital Markets Ltd, HDFC Bank Ltd and India Infoline Ltd are the book running lead managers to the issue.
