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Sandhar Technologies will issue equity shares to raise Rs.300 crore via IPO.
The offer for sale will be for fresh sale of 64 lakh shares by GTI Capital Beta. The price band has been fixed between Rs.327 to Rs.332 per share. The offer will open for subscription on March 19 and close on March 21.
Post IPO, the promoter’s stake in the company will reduce from current 83% to 70%. GTI Capital is selling 17% stake in the company. Furthermore, from the proceeds the company proposes to use approx Rs.225 crore for repaying debt and use the rest for general corporate purposes.
