Inventia Healthcare files draft papers with Sebi to raise Rs 4.5 bn via IPO Noor Arora
Inventia Healthcare has filed draft papers with capital markets regulator Sebi to raise an estimated Rs 4.5 billion through an initial public offering. The IPO comprises fresh issuance of equity shares worth up to Rs 1.25 billion, besides, an offer of sale up to 31,64,000 scrips by promoters and other shareholder, according to the draft red herring prospectus (DRHP) filed with Sebi. In the offer for sale, promoters --- Janak Shah and Maya Shah -- and private equity fund Jacob Balls will sell shares. Proceeds of the issue will be used for payment of outstanding borrowings availed by the company and for other general corporate purposes. "Our company intends to strengthen its capital base and expects to receive the benefits of listing of its equity shares on the stock exchanges, including among other things, enhance our visibility and provide liquidity to our shareholders," the firm not
ARTICLE SOURCE: BS