look news india
New Delhi, September 17 (HS). Shivalik Engineering Industries Limited has received approval from the capital market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company had filed its Draft Red Herring Prospectus (DRHP) with SEBI on June 28, 2024.
The company said in a statement issued on Tuesday that capital market regulator SEBI has given its approval to launch its IPO. The company's IPO with a face value of Rs 5 per equity share is a proposal for the issue of new shares up to Rs 335 crore and sale of 4.13 million equity shares by promoters and other selling shareholders.
Shivalik Engineering Industries Limited IPO offer also includes reservation for subscription by eligible employees. The company is offering discounts to eligible employees bidding in the employee reservation portion. Raipur-based Shivalik Engineering Industries Limited is one of India's leading precision engineering companies.