Navkar Corp files for up to $96 million IPO

MUMBAI (Reuters) - Navkar Corporation, an Indian container terminal operator, filed a draft prospectus for an up to 6 billion rupees ($96.3 million) initial public offering (IPO) with capital markets regulator Securities and Exchange Board of India.

The offer consists of a fresh issuance of 5.10 billion rupees and an offer for sale of up to 900 million rupees, the draft filed on Tuesday showed.

The company plans to use the proceeds for capacity expansion. Navkar's rivals include Gateway Distriparks and Allcargo Logistics .

Axis Bank , Edelweiss and SBI Capital Markets are the managers to the issue.

($1 = 62.3150 rupees)

(Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)