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19 Nov 2024
Shivalik Engineering Industries, a leading foundry in India, has submitted a draft red herring prospectus to the Securities Exchange Board of India for an initial public offering (IPO).
The IPO will include a fresh issue of Rs 335 crore and an offer for sale (OFS) of up to 4.13 million shares by current shareholders and promoters.
The OFS allocation is up to 1.20 million shares each from Giriraj Singhania and Raghvendra Singhania, 803,000 shares from Vishal Sharma, and 211,000 shares from Mohit Sharma.
The IPO is being managed by Axis Capital and IIFL Securities. Shivalik Engineering specializes in a wide variety of casting products for automotive and railway industries, among other sectors.
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