Vinir Engineering Limited, an integrated engineering solutions company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company has proposed to list its equity shares on the BSE and NSE.
The proposed IPO will comprise an entirely fresh issue of up to 7.1 crore equity shares with a face value of Rs 2 each. There will be no offer-for-sale component. The net proceeds from the issue are proposed to be used towards purchasing advanced forging and machining plant and machinery, working capital requirements, funding inorganic growth through unidentified acquisitions and general corporate purposes.
