GB Tools files IPO documents with Sebi, plans to raise Rs 40cr
The company engaged in the business of manufacturing and export of drop forge hand tools and allied forging products.
By PTI |
MUMBAI: G B Tools & Forgings has filed documents with market regulator Sebi to raise about Rs 40 crore through the initial public offering ( IPO) route.
The company engaged in the business of manufacturing and export of drop forge hand tools and allied forging products.
G B Tools & Forgings has filed a Draft Red Herring Prospectus (the DRHP) with Sebi to garner an aggregate of Rs 40 crore through IPO, Sebi said.
The company said proceeds of the issue would be used for expansion and modernisation of its existing hand tool manufacturing facility at Jalandhar that needs Rs 32.17 crore funds, and general corporate purpose.
It also proposes to consider a pre-IPO placement of up to Rs 10 crore with certain investors.
SPA Capital Advisors is acting as the book running lead managers to the proposed issue.
The company engaged in the business of manufacturing and export of drop forge hand tools and allied forging products.
G B Tools & Forgings has filed a Draft Red Herring Prospectus (the DRHP) with Sebi to garner an aggregate of Rs 40 crore through IPO, Sebi said.
The company said proceeds of the issue would be used for expansion and modernisation of its existing hand tool manufacturing facility at Jalandhar that needs Rs 32.17 crore funds, and general corporate purpose.
It also proposes to consider a pre-IPO placement of up to Rs 10 crore with certain investors.
SPA Capital Advisors is acting as the book running lead managers to the proposed issue.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Ola Electric files application to settle Sebi probe over false information allegationsADVERTISEMENT
