19/10/2024, 12:57:03 pm

SMPP files draft papers with SEBI to raise Rs 4000 cr via IPO

SMPP Ltd has filled a draft red herring prospectus with Securities Board of India to raise Rs 4000 crore via initial public offering. The issue consists of a fresh issue of Rs 580 crore and an offer for sale of upto Rs 3420 crore by its promoter Shiv Chand Kansal. Currently Kandal holds 50 percent stake in the firm.