RKB Global gets Sebi`s green signal to raise funds via IPO
RKB Global has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through initial public offering (IPO). The company’s IPO comprises a fresh issue of 1.26 crore equity shares and an OFS portion of 20.20 lakh shares.
The company proposes to utilise the proceeds from the IPO for purchasing plant and machinery for its existing manufacturing unit at Wada, solar panels for installation at the unit and machinery for its mining vertical. The funds will also be used for payment of debt, funding incremental working capital requirements and general corporate purposes.
RKB Global is engaged in the importing, exporting, trading, distribution, and manufacturing of iron and steel products, along with iron ore mining and the manufacturing and supply of pre-engineered building (PEB) structural components.
