New Delhi-based Hi-Tech FlowSolutions Limited files DHRP for IPO
New Delhi-based Hi-Tech Flow Solutions Limited has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The IPO, with a face value of Rs 2, is a fresh issue up to Rs 300 crore and an offer-for-sale by promoters – Ajay Kumar Bansal and Vipul Bansal. Ajay Kumar Bansal is offering shares up to Rs 75 crore and Vipul Bansal up to Rs 25 crore. Investor - The Wealth Company Alternates Trust – India Inflection Opportunity Fund is offering up to 20,268,225 shares. The company, in consultation with the book-running lead managers, may consider a pre-IPO Placement for up to Rs 60 crore. The pre-IPO placement if completed, the fresh issue size will be reduced. The proceeds from its fresh issue worth Rs 125.9 crore will be utilised for funding the proposed expansion by setting up API-grade HSAW pipe manufacturing unit along with a 3LPE coating un...