JK Files & Engineering gets SEBI’s go-ahead to raise funds via IPO
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JK Files & Engineering has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO). Raymond-promoted company had in December 2021 filed draft papers to raise around Rs 800 crore through IPO, an offer for sale by Raymond which holds a 100 percent stake in the firm. SBI Capital Markets, Dam Capital Advisors and HDFC Bank are the lead managers to the issue.
JK Files & Engineering is engaged in the manufacturing of precision engineered components for tools and hardware (files and drills) and marketing of hand tools, power tool accessories and power tool machines and manufacturing of auto components and engineering products -- RNG gears, flexplates and water pump bearings.
