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Varroc Engineering IPO will be managed by Kotak Mahindra Capital Company, Citigroup Global Markets India, Credit Suisse Securities (India) and IIFL Holdings. Photo: iStock
Varroc Engineering IPO will be managed by Kotak Mahindra Capital Company, Citigroup Global Markets India, Credit Suisse Securities (India) and IIFL Holdings. Photo: iStock

Varroc Engineering files IPO papers with Sebi

Varroc Engineering IPO will see sale of up to 1,85,36,600 shares by the company's promoter, the draft red herring prospectus (DRHP) filed showed

New Delhi: Varroc Engineering, an automotive component maker, has filed preliminary papers with markets regulator Sebi to float an initial public offer.

The public issue will see sale of up to 1,85,36,600 shares by the company’s promoter, the draft red herring prospectus (DRHP) filed showed. The offer will help to achieve the benefits of listing the equity shares on the stock exchanges and to carry out the offer for sale by selling shareholders.

VEL is engaged in design, manufacture and supply of exterior lighting systems, plastic and polymer components and precision metallic components to passenger car, commercial vehicle, two-wheeler, three-wheeler and off-highway vehicle directly worldwide.

Kotak Mahindra Capital Company, Citigroup Global Markets India, Credit Suisse Securities (India) and IIFL Holdings will manage the issue.

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