ACB to raise Rs415 crore through IPO
The proceeds will be used for providing an exit to its existing shareholders Ganesh Chandra Mrig and Ashok Mrig
Mumbai: ACB (India) Ltd, a Gurgaon-based coal washing and power company, has applied to the market regulator to raise Rs415 crore through an initial public offering (IPO). The proceeds will be used for providing an exit to its existing shareholders Ganesh Chandra Mrig and Ashok Mrig.
The firm will be looking to sell 30,940,000 shares with a face value of Rs10 each. “Our company will not receive any proceeds of the Offer and all the proceeds of the Offer will go to the selling shareholders," the firm stated in its draft prospectus.
Edelweiss Financial Services Ltd, ICICI Securities Ltd and Macquarie Capital Securities are among the investment banks mandated to handle the issue.
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