JK Information & Engineering IPO: JK Information & Engineering information Rs 800 cr IPO papers

New Delhi: JK Information & Engineering Ltd, an organization that’s within the enterprise of auto elements, has filed preliminary paperwork with markets regulator Sebi to boost Rs 800 crore by an preliminary public providing (IPO). The general public situation is fully a suggestion of sale (OFS) of fairness shares to the tune of Rs 800 crore by promoter Raymond Ltd, based on the draft crimson herring prospectus filed on Wednesday.

At current, Raymond, the nation’s main participant in suiting and shirting, holds 100 per cent stake within the firm.

For the reason that public situation is totally an OFS, the corporate is not going to obtain any funds raised from the IPO.

The corporate is engaged within the manufacturing of precision engineered elements for instruments and {hardware} (information and drills) and advertising and marketing of hand instruments, energy device equipment and energy device machines and manufacturing of auto elements and engineering merchandise — RNG gears, flexplates and water pump bearings.

JK Information & Engineering posted a consolidated revenue of Rs 25.46 crore in FY2020-21 towards Rs 14 crore within the earlier yr. Its registered a income of Rs 350 crore in FY21 as towards Rs 382 crore within the previous fiscal.

SBI Capital Markets, DAM Capital Advisors (previously generally known as IDFC Securities) and HDFC Financial institution are the e book operating lead managers to the problem.

On December 1, diversified Group Raymond introduced that its board authorised the itemizing of its subsidiary JK Information & Engineering.