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The Economic Times
The Economic Times
Kumar Gaurav

IPO Ahead! Electrical products maker Biocon Electric files draft papers with Sebi

SEBI Biocon IPO Kumar Gaurav

Electrical products maker Biocon Electric has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) of up to 59,00,000 equity shares.

The proposed offer comprises a fresh issue of up to 48,00,000 equity shares and an offer for sale (OFS) of up to 11,00,000 equity shares by promoter-selling shareholders, with each of the five selling shareholders offering up to 2,20,000 shares. The shares will have a face value of Rs 10 each. The company has proposed to list its equity shares on the Main Board of BSE Limited and the National Stock Exchange of India Limited.

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