Viney Corporation Files IPO Papers with Sebi: Auto Component Maker Aims to Raise Rs 150 Crore
By Rediff Money Desk, New Delhi Oct 01, 2024 13:19
Auto component maker Viney Corporation has filed IPO papers with Sebi, seeking to raise Rs 150 crore through a combination of fresh issue and offer for sale. The IPO will be managed by ICICI Securities and Axis Capital.
New Delhi, Oct 1 (PTI) Auto component maker Viney Corporation has filed draft preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The company's proposed IPO is a combination of fresh issue of equity shares worth Rs 150 crore and an offer for sale (OFS) of 2.22 crore equity shares by promoters and investor shareholders, according to the draft red herring prospectus (DRHP) filed on Monday.
Promoters -- Brijesh Aggarwal, VL-Auto Ancillary and other shareholders -- Priyanka Aggarwal and Aren Capsules, Rakesh Kumar Aggarwal -- are selling shares in the OFS.
Proceeds from the fresh issue will be used for payment of debt, and for general corporate purposes
Viney Corporation is engaged in designing, manufacturing, supplying and exporting a wide array of automotive component products for two-wheeler vehicles, three-wheeler vehicles, passenger vehicles and commercial vehicles.
The company's products are designed in India and Italy, manufactured in India, Italy, and Romania, and are supplied and distributed across India, Europe, USA and Brazil.
ICICI Securities and Axis Capital are the book-running lead managers to the issue.
The company's proposed IPO is a combination of fresh issue of equity shares worth Rs 150 crore and an offer for sale (OFS) of 2.22 crore equity shares by promoters and investor shareholders, according to the draft red herring prospectus (DRHP) filed on Monday.
Promoters -- Brijesh Aggarwal, VL-Auto Ancillary and other shareholders -- Priyanka Aggarwal and Aren Capsules, Rakesh Kumar Aggarwal -- are selling shares in the OFS.
Proceeds from the fresh issue will be used for payment of debt, and for general corporate purposes
Viney Corporation is engaged in designing, manufacturing, supplying and exporting a wide array of automotive component products for two-wheeler vehicles, three-wheeler vehicles, passenger vehicles and commercial vehicles.
The company's products are designed in India and Italy, manufactured in India, Italy, and Romania, and are supplied and distributed across India, Europe, USA and Brazil.
ICICI Securities and Axis Capital are the book-running lead managers to the issue.
Source: PTI
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