SMPP Limited Seeks Rs.4,000 Crore Through IPO as It Files DRHP with SEBI
Varahimedia.com online news,October 22,2024: SMPP Limited, an Indian designer and manufacturer of defense equipment-including ammunition components, personal
Varahimedia.com online news,October 22,2024: SMPP Limited, an Indian designer and manufacturer of defense equipment-including ammunition components, personal protection products, and protection kits for land, air, and sea platforms-has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The company aims to raise up to ₹4,000 crore (₹40 billion) through an initial public offering (IPO) by offering equity shares with a face value of ₹2 each.
The offer consists of a fresh issue of equity shares amounting to ₹580 crore (₹5.8 billion) (the “Fresh Issue”) and an offer for sale by selling shareholders aggregating up to ₹3,420 crore (₹34.2 billion) (the “Offer for Sale”).
The equity shares proposed in the Red Herring Prospectus are intended to be listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) (the “Listing Details”).
The Book Running Lead Managers (BRLMs) for this issue include Axis Capital Limited, ICICI Securities Limited, IIFL Securities Limited, JM Financial Limited, and Motilal Oswal Investment Advisors Limited.
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