Uniparts India, manufacturer of engineering systems and solutions, has filed draft papers with the markets regulator SEBI to float an initial public offering. The IPO comprises fresh issuance of shares worth Rs. 100 crore besides an offer for sale of 1,30,60,770 stocks by existing shareholders, according to the draft red herring prospectus. Funds raised will be utilised for repaying loan and for general corporate purposes.
Source : https://www.thehindu.com/todays-paper/tp-business/uniparts-india-files-ipo-papers-with-sebi/article25684188.ece