Rishabh Instruments, a global energy efficiency solution company, has filed preliminary papers with markets regulator Sebi to mop-up funds through an initial public offering (IPO).
The IPO comprises a fresh issue of equity shares aggregating to up to Rs 75 crore and an offer for sale (OFS) for up to 94.17 lakh equity shares by its promoter group shareholders and an existing investor, according to its draft red herring prospectus (DRHP).
Under the OFS, Asha Narendra Goliya will offload 25 lakh equity shares, Narendra Rishabh Goliya (HUF) will sell 5.17 lakh shares, Rishabh Narendra Goliya will dispose of 4 lakh shares and SACEF Holdings II will sell 60 lakh equity shares in the company.
Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced.
Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility i
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