New Delhi, Mar 29 (PTI) Varroc Engineering, an automotive component maker, has filed preliminary papers with markets regulator Sebi to float an initial public offer. Also Read - Monsoon Session Day 2: Lok Sabha Passes Essential Commodities Bill to Raise Farmer Income, Boost Agri Sector | Highlights
The public issue will see sale of up to 1,85,36,600 shares by the company’s promoter, the draft red herring prospectus (DRHP) filed showed. Also Read - 'Jammu And Kashmir to Reopen For Tourism Soon', Says J&K Administration
The offer will help to achieve the benefits of listing the equity shares on the stock exchanges and to carry out the offer for sale by selling shareholders. Also Read - COVID-19: Centre Announces Guidelines For Unlock 2, Lockdown Till July 31 in Containment Zones
VEL is engaged in design, manufacture and supply of exterior lighting systems, plastic and polymer components and precision metallic components to passenger car, commercial vehicle, two-wheeler, three-wheeler and off-highway vehicle directly worldwide.
Kotak Mahindra Capital Company, Citigroup Global Markets India, Credit Suisse Securities (India) and IIFL Holdings will manage the issue.
This is published unedited from the PTI feed.