Shera Energy Limited, which manufactures copper, aluminium and brass winding wire and strip, has proposed to open its IPO on February 7.

The company aims to raise Rs 35.20 crore in the IPO, and the shares will be listed on the NSE Emerge platform.

The issue size is up to 61,76,000 equity shares, of which the new issue will be up to 10,48,000 equity shares, and the OFS (offer for sale) will be up to 51,28,000 equity shares.

Naseem Shaikh, chairman and managing director of the company, said the net proceeds from the IPO will be used for working capital needs and general corporate purposes.

This issue will close on February 9. The company has placed 18,00,000 shares totalling Rs 10.80 crore in a pre-IPO placement.

Holani Consultants Private Limited was the managing bookkeeping executive for the period. The company produces non-ferrous metal products such as copper, aluminium and brass under one roof.