Shri Bajrang Power and Ispat has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 500 crore through an initial public offering (IPO). The company’s shares are proposed to be listed on the BSE and NSE.The funds will be utilized towards repayment of certain borrowings availed by the company and for other general corporate purposes. IDBI Capital Markets & Securities, Equirus Capital and SBI Capital Markets are the book running lead managers to the issue. The company is an integrated manufacturer of long steel products in the country.
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