Steel Infra Solutions files preliminary papers with SEBI for IPO
Steel Infra Solutions Company has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) seeking its approval to raise funds through an initial public offering (IPO). The IPO is a combination of fresh issue of equity shares worth Rs 96 crore and an offer-for-sale of 1.42 crore equity shares.
Proceeds from the fresh issue will be used for expansion of manufacturing facilities located in Vadodara, Hyderabad and Bhilai, working capital requirements of the company, and for general corporate purposes. DAM Capital Advisors is the sole book-running lead manager to the issue.
Steel Infra Solutions Company (SISCOL) is an integrated structural steel solutions provider for large-scale infrastructure projects.
