Bangalore-based Online Instruments (India) Limited files DHRP for IPO
Bangalore-based Online Instruments (India) 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 750 crore and an offer for sale up to 5,710,000 shares by promoters – Anita Mahesh Bellad, and Rajeshwari Shivanand Mahashetti. The proceeds from its fresh issuance worth Rs 160 crore will be utilised for repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company, Rs 330 crore for funding working capital requirements of the company, funding inorganic growth through unidentified acquisitions, and general corporate purposes The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% reserved for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NII...