The provide additionally features a reservation for subscriptions by eligible staff.
New Delhi:
IT {hardware} and cell equipment agency Balaji Options has filed preliminary papers with capital markets regulator Sebi to boost funds by means of an preliminary public providing (IPO).
The general public concern consists of a recent concern of fairness shares price as much as Rs 120 crore and an offer-for-sale (OFS) of as much as 75 lakh fairness shares by promoter and promoter group entity, in response to the draft purple herring prospectus (DRHP).
Beneath the OFS, Rajendra Seksaria and Rajendra Seksaria HUF will offload shares.
The provide additionally features a reservation for subscriptions by eligible staff.
The corporate could contemplate a pre-IPO placement aggregating as much as Rs 24 crore. If such placement is accomplished, the recent concern dimension can be decreased.
Proceeds from its recent issuance price Rs 86.60 crore can be utilised for funding incremental working capital necessities and basic company functions.
Balaji Options is an IT {hardware} and peripherals and cell equipment firm engaged within the enterprise of producing and branding merchandise below its flagship model “Foxin”.
The corporate’s income decreased to Rs 482.25 crore for the monetary yr 2022 from Rs 483.48 crore for the monetary yr 2021, apart from, revenue after tax dropped to Rs 15.39 crore in FY22 from Rs 16.25 crore within the previous fiscal.
IDBI Capital Markets and Securities and Affinity International Capital Market are the books working lead managers. The fairness shares are proposed to be listed on BSE and NSE.
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)
