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11-Dec2017

Sandhar Technologies files DRHP with SEBI to raise Rs 300 crore through IPO

Sandhar Technologies has filed a Draft Red Herring Prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 300 crore through an initial public offer (IPO). The IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale of 80 lakh shares by GTI Capital Beta.

The company intends to use a portion of the net proceeds to prepay/repay certain loan facilities and for general corporate purposes. The repayment will help reduce outstanding indebtedness and debt servicing costs, and enable utilization of the company's internal accruals for further investment in growth strategies.

The book running lead managers to the issue are ICICI Securities and Axis Capital. The equity shares are proposed to be listed on BSE and NSE.

Sandhar Technologies is an OEM component supplier with manufacturing plants in India, Spain, Poland and Mexico.


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