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Amar Ujala Publications, which publishes Hindi daily Amar Ujala , has filed draft papers with capital markets regulator SEBI to raise funds through an initial public offer (IPO).
The IPO comprises of fresh issue of equity shares worth Rs 50 crore and an offer for sale of up to 26.90 lakh equity shares by existing shareholders, according to draft documents.
The selling shareholders include Rajul Maheshwari, Sneh Lata Maheshwari and Pun Undertakings Network Private Ltd.
The proceeds of the issue would be utilised towards purchase of printing machines as well as hoardings, investment in its subsidiary, and general corporate purposes.
The issue is being managed by Axis Capital and IDFC Securities.
This is the seventh draft document filed with SEBI to float an IPO since January.
Among the firms that have filed IPO papers are AGS Transact Technologies, S H Kelkar and Company, Shree Shubham Logistics, Precision Camshafts, Pennar Engineered Building Systems and SSIPL Retail.
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