One of India’s largest foundries - Shivalik Engineering Industries - has filed a draft red herring prospectus with Securities Exchange Board of India to raise funds via an initial public offering.
The proposed IPO consists of a fresh issue of Rs 335 crore and an offer for sale of up to 4.13 million shares by its existing shareholders and promoters.
The OFS comprises of up to 1.20 million shares each by Giriraj Singhania and Raghvendra Singhania, up to 8.03 lakh shares by Vishal Sharma, up to 2.11 lakh shares by Raghvendra Singhania, up to 8.03 lakh shares by Vishal Sharma, up to 2.11 lakh shares by Mohit Sharma.
Axis Capital and IIFL securities are the lead managers to the issue.
Shivalik Engineering produces a wide range of casting products for automotive and railway companies, among other clients.
This story is being updated.
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