Amar Ujala files IPO papers with Sebi
The selling shareholders include Rajul Maheshwari, Sneh Lata Maheshwari and Pun Undertakings Network Private Limited.
By PTI |
NEW DELHI: Amar Ujala Publications, which publishes Hindi daily Amar Ujala, has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offer ( IPO).
The IPO comprises fresh issue of equity shares worth Rs 50 crore and an offer for sale of up to 26.90 lakh equity shares by existing shareholders, according to draft documents.
The selling shareholders include Rajul Maheshwari, Sneh Lata Maheshwari and Pun Undertakings Network Private Limited.
The proceed of the issue would be utilised towards purchase of printing machines as well as hoardings, investment in its subsidiary and general corporate purposes.
The issue is being managed by Axis Capital and IDFC Securities.
The IPO comprises fresh issue of equity shares worth Rs 50 crore and an offer for sale of up to 26.90 lakh equity shares by existing shareholders, according to draft documents.
The selling shareholders include Rajul Maheshwari, Sneh Lata Maheshwari and Pun Undertakings Network Private Limited.
The proceed of the issue would be utilised towards purchase of printing machines as well as hoardings, investment in its subsidiary and general corporate purposes.
The issue is being managed by Axis Capital and IDFC Securities.
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