The IPO is a mix of fresh issue of shares worth Rs 100 crore and an offer for sale (OFS) of 37.15 lakh shares by promoters, according to the draft red herring prospectus (DRHP) filed on Thursday.
Proceeds from the fresh issue to the tune of Rs 37.59 crore will be used for the purchase of cash vehicles and fabrication of the secured vehicle; Rs 29.81 crore for payment of debt and a portion will be used for general corporate purposes.
Cash logistics player SIS Cash Service Ltd has filed draft papers with the market regulator Sebi to mop up funds through an initial public offering (IPO).
The story "SIS Cash Service IPO to raise Rs 100 cr, promoters offer 3.7 mn addl shares" has 384 words across 17 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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