Shivalik Engineering Industries Files for IPO to Raise Rs 335 Crore

One of the biggest foundries in India, Shivalik Engineering Industries, has made a big step toward going public. In order to launch an initial public offering (IPO), the company has submitted a draft red herring prospectus to the Securities Exchange Board of India (SEBI). The purpose of this action is to generate significant capital for the company's operational and expansion needs.
Shivalik Engineering Industries IPO

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The proposed IPO comprises a fresh issue of shares worth Rs 335 crore, alongside an offer for sale (OFS) of up to 4.13 million shares by its existing shareholders and promoters. The OFS includes up to 1.20 million shares each from Giriraj Singhania and Raghvendra Singhania, up to 8.03 lakh shares from Vishal Sharma, and up to 2.11 lakh shares from Mohit Sharma.

Shivalik Engineering Industries Files for IPO to Raise Rs 335 Crore

Axis Capital and IIFL Securities have been appointed as the lead managers for the IPO, indicating a well-supported and strategically planned public offering.

Shivalik Engineering Industries is well-known for providing a broad variety of casting products, mainly to the railway industry and automotive sectors.

Market analysts and investors will be closely monitoring this IPO’s progress in order to predict Shivalik Engineering’s next moves in the competitive foundry sector.

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