NEW DELHI: (Jul 27) Organised gold jewellery manufacturer and wholesale distributor Master Chains N Jewels Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares worth up to Rs 400 crore and an Offer for Sale (OFS) of up to 59.06 lakh equity shares by promoter Taruna Madan Kothari, according to the draft red herring prospectus (DRHP) filed on Saturday.
The proceeds from the fresh issue will be utilised towards funding the company’s working capital requirements and for general corporate purposes.
Source: PTI News
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