Power Mech Projects plans initial public offering

Power Mech Projects Ltd has filed its draft red herring prospectus (DRHP) with market regulator SEBI for its proposed IPO of 4,269,000 equity shares of face value Rs 10 each at a price to be decided by the book building process.

The offer comprises a fresh issue of 2,128,000 equity shares and an offer for sale of 2,141,000 equity shares, a company statement said here today.

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

Karvy Computershare Private Limited is the registrar to the issue, the statement said.