Regreen Excel EPC Files DRHP With Sebi; IPO Includes Fresh Equity Worth Rs 350 Cr
The issue also includes an offer for sale (OFS) component of 1.14 crore equity shares by selling shareholders
Regreen Excel EPC India submitted draft papers with the Securities and Exchange Board of India (Sebi) for its Rs initial public offering (IPO).
According to the draft papers filed with the regulator, the issue consisted of fresh equity shares worth up to Rs 350 crore.
The issue also included an offer for sale (OFS) component of 1.14 crore equity shares by selling shareholders, including Sanjay Shrinivasrao Desai, Tushar Vedu Patil, Alimuddin Aminuddin Sayyed, Kiran Sudhakar Gavali, Rokesh Luis Mascarenhas, and Sagar Satish Raut.
The company proposed to utilise the net proceeds towards funding capital expenditure requirements, repayment or prepayment, of certain borrowings and funding capital expenditure.
IIFL Securities and ICICI Securities are the book running lead managers to the issue and Link Intime is the official registrar to the issue.
The shares of the company are proposed to be listed on both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
The company focuses in the renewable energy and ethanol, distillery, biofuel, CBG, sugar, and cogeneration sectors. The firm caters to improve delivery procedures with production facilities in Ghaziabad and Pune.
