Lamtuf files draft IPO papers with SEBI
Lamtuf, an industrial laminates manufacturer, has filed preliminary papers with market regulator Securities and Exchange Board of India (SEBI) to seek approval to raise funds through an initial public offering (IPO). The IPO is a mix of fresh issue of 1 crore shares and an offer-for-sale (OFS) of 20 lakh shares by promoters.
Proceeds from the fresh issue to the extent of Rs 60.43 crore will be used towards part financing the expansion of its existing manufacturing facility in Telangana, Rs 34 crore for funding working capital requirements and a portion will be utilised for general corporate purposes. Unistone Capital is the sole book-running lead manager of the issue. The equity shares are proposed to be listed on the NSE and BSE.
Hyderabad-based Lamtuf is a vertically integrated manufacturer engaged in the production and sale of industrial laminates, shuttering films and composite materials.
