EPack Prefab Tech files IPO papers to raise Rs 300 cr via fresh issue

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EPack Prefab Tech files IPO papers to raise Rs 300 cr via fresh issue - Business Standard

Quick Summary:

Proceeds from the fresh issue to the extent of Rs 101.62 crore will be used for setting up a new manufacturing facility at Ghiloth Industrial Area at Alwar in Rajasthan; Rs 58.10 crore for expansion of the existing manufacturing facility at Mambattu in Andhra Pradesh for increasing the pre-engineered steel building capacity; Rs 70 crore for payment of debt and a portion will be used for general corporate purposes.

The IPO comprises fresh issues of shares worth Rs 300 crore and an Offer For Sale (OFS) of 1 crore shares by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.

EPack Prefab Technologies has filed draft papers with markets regulator Sebi to raise funds through an Initial Public Offering (IPO).