Electrical cables wires and plastic pipe manufacturer Sanco Industries Ltd. filed a draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs.14 crore.
The company plans to utilize the IPO proceeds for capital expenditure on existing manufacturing capacity of PVC pipes and wire and cable, working capital requirement and general corporate purpose.
Keynote Corporate Services Ltd. is the book running lead manager and Beetal Financial & Computer Services (P) Ltd. is the registrar to the issue
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