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Sona Machinery Files DRHP for IPO on NSE Emerge

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By Rediff Money Desk, NEWDELHI   Dec 04, 2023 18:17

Sona Machinery Ltd, an agro-processing equipment maker, has filed a DRHP with NSE Emerge to launch an IPO. The IPO aims to raise funds for a new manufacturing unit.
Sona Machinery Files DRHP for IPO on NSE Emerge
New Delhi, Dec 4 (PTI) Agro-processing equipment maker Sona Machinery Ltd on Monday said it has filed draft papers to launch a public issue.

The company, in a statement, said it has filed the Draft Red Herring Prospectus (DRHP) with the NSE Emerge -- the SME platform of the National Stock Exchange (NSE).

The IPO comprises a fresh issue of up to 3,624,000 equity shares with a face value of Rs 10 each, as per the statement.

The company will use the funds to set up a new manufacturing unit to expand its operational capabilities and manufacturing output to cater to the ever-rising demand of its products among customers, it said.
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