New Delhi: Auto component maker Sandhar Technologies has received capital markets regulator Sebi's go- ahead to float an initial public offer.
- The company had filed draft papers with Sebi in December last year and obtained "observations" from the regulator on March 1.
- Sebi's observations" are required for companies to launch public issues like initial public offer (IPO) and rights issue.
- Going by the draft papers, Sandhar's IPO comprises a fresh issue of equity shares worth Rs 300 crore.
- The company has an offer for sale of 80 lakh scrips by GTI Capital Beta Pvt Ltd.
- The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes.
- ICICI Securities and Axis Capital are managing the company's IPO.
- The equity shares are proposed to be listed on BSE and NSE.
- Sandhar Technologies IPO Closes on Mar 21, 2018.