Auto component manufacturer Sandhar Technologies has filed draft papers for Rs 3,000 million initial public offer (IPO), news agency PTI has reported. The IPO comprises a fresh issue of equity shares worth Rs 3,000 million and an offer for sale of eight million by GTI Capital Beta Pvt Ltd. ICICI Securities and Axis Capital will manage the IPO. The equity shares are proposed to be listed on BSE and NSE.
The company intends to use a portion of the net proceeds to prepay/repay certain loan facilities and for general corporate purposes, PTI report said.
Sandhar Technologies Automotive is an OEM component supplier with manufacturing plants in India, Spain, Poland and Mexico.