ITI is into manufacturing of a diverse range of Information and Communication Technology (ICT) products and solutions. Its customers include BSNL, MTNL, defence, paramilitary forces and state governments.
The IPO of Stove Kraft comprises fresh issuance of shares worth up to ₹145 crore and an offer of sale for up to 7,163,721 shares. The company would utilise the funds raised through IPO for paying certain borrowing and for other general corporate purposes. Edelweiss Financial Services, IDFC Bank and JM Financial would manage the company's IPO.
Polycab's initial share-sale consists of fresh issuance of shares worth ₹500 crore, besides an offer for sale of 2,48,86,823 stocks by promoters and existing shareholder - International Finance Corp (IFC).
IFC will sell 10,588,223 stocks of the company through the offer for sale (OFS) route.
Proceeds of the issue will be used for scheduled repayment of certain borrowings, to fund incremental working capital requirements of the firm and for general corporate purposes.
Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, IIFL Holdings and Yes Securities will manage the Polycab's IPO.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been updated.
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