Sona Machinery Files DRHP for IPO on NSE Emerge
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.
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.
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.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- ARC Finance
- 1.51 (+ 2.72)
- 99106131
- Vodafone Idea L
- 8.27 (+ 1.72)
- 37910491
- Guj. Toolroom Lt
- 18.98 (+ 4.98)
- 33052379
- Srestha Finvest
- 0.81 ( -2.41)
- 24087791
- Filatex Fashions
- 0.69 ( -4.17)
- 20455844
MORE NEWS
Adani Wilmar to Emulate ITC, Expand FMCG Portfolio
Adani Wilmar, India's largest edible oil company, plans to leverage its core business...
India to Boost Exports: 20 Nations Meet Jan 6-8
Indian officials from 20 countries will meet in New Delhi to discuss strategies to...
Karur Vysya Bank Expands in Tamil Nadu with Two...
Karur Vysya Bank has opened two new branches in Tamil Nadu, bringing its total branch...