Sambhv Steel Tubes Limited files DRHP with Sebi
Bengaluru, October 03, 2024: Sambhv Steel Tubes Limited (SSTL) one of the key manufacturers of electric resistance welded (“ERW”) steel pipes and structural tubes (hollow section) in India in terms of installed capacity as of March 31, 2024 according to CRISIL Report has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
The Company plans to raise funds through offer of equity shares (face value ₹10 each) through initial public offerings aggregating up to ₹5,400 million (₹540 Crore).
The offer comprises of fresh issue of equity shares aggregating up to ₹4400 million [₹440crore] (“Fresh Issue”) and offer for sale by Selling Shareholders aggregating up to ₹1000 million [₹100 Crore] (“Offer for Sale”).
The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”). (“Listing Details”)
Nuvama Wealth Management Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers to the issue. (“BRLMs”)
