After going through the DRHP which has been better summarized by screener:-
Company. intends to raise 500 Crs through the IPO of which 100 Crs is an Offer for sale and 400 Crs is a Fresh issue that will be utilized for:
- Repayment of Borrowings
- Funding working capital requirements of the Company.
- Investment in its wholly owned Subsidiary, Raneal Advanced Systems Private Limited, to fund its capital expenditure expenses.
- General corporate purposes.
The debt part is a little worrying.
Would be interesting to see how the earnings per share is improved with debt repayment.
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