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Century Metal Recycling files IPO papers with Sebi

Press Trust of India  |  New Delhi 

has filed draft papers with markets regulator for an (IPO).

The offer comprises of a fresh issue of equity shares aggregating up to Rs 150 crore and an offer for sale of up to 6,402,650 equity shares of by the promoters including Gauri (up to 793,243 equity shares), (up to 788,955 shares).

The public issue will see sale of up to 2,550,386 equity shares by Global Scrap Processors, up to 527,484 shares by Sanjivani Non Ferrous and up to 573,520 by Grand Metal Recycling private Limited, according to draft red herring prospectus (DRHP).

The company intends to utilise the net proceeds from the fresh issue towards the prepayment or repayment of all or a portion of certain borrowings availed by the company and

The equity shares offered through the red herring prospectus are proposed to be listed on the stock exchanges and the company has received 'in-principle' approval from BSE and NSE for the listing.

and were the book running lead managers to the issue.

is a of aluminium based die cast alloys and zinc alloys in It has an annual production capacity of over 218,000 MT for aluminium alloys and 8,000 MT for zinc alloys.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 15:30 IST