Power Mech Projects files draft prospectus for IPO

Power Mech Projects has filed its draft papers with market regulator SEBI for its proposed IPO of 42.69 lakh equity shares.

The Draft Red Herring Prospectus is for issuance of 4,269,000 equity shares of face value Rs 10 each.

"The offer comprises a fresh issue of 2,128,000 equity shares and an offer for sale of 2,141,000 equity shares," Power Mech Projects said in a statement.

Kotak Mahindra Capital Company Limited, India Infoline Limited and Motilal Oswal Investment Advisors Private Limited are the book running lead manager to the offer.

Karvy Computershare Private Limited is the registrar to the issue.

Power Mech Projects is engaged in power, infrastructure and Petrochemicals sectors.