Stock Market Live Update: Kanohar Electricals files IPO papers with fresh issue size of Rs 300 crore
Uttar Pradesh-based transformer maker Kanohar Electricals has filed draft documents with the Securities and Exchange Board of India to raise funds through an IPO to meet its capital expenditure and working capital requirements.
The company proposes to raise Rs 300 crore by issuing fresh shares, while the promoter’s sons family trust will sell 1.45 crore shares through offer-for-sale.
The fresh issue includes a pre-IPO placement of Rs 60 crore, which the company may consider before filing the red herring prospectus with the Registrar of Companies.