Shri Bajrang Power and Ispat are one of the flagship companies of the Goel Group of Companies. Recently, this company has submitted draft red herring prospectus (DRHP) with the market regulator the Securities and Exchange Board of India (SEBI) to launch an initial public offer worth INR 500 crore.

The proceeds will be utilized for the repayment of borrowings & general corporate purposes. Moreover, the company is planning to increase production capacities. It is expected to be fully accomplished during the year 2020 and once it’s installed the capacity will be increased to 5,10,000 TPA from 3,60,000 for sponge iron production, probably.

IDBI Capital Markets & Securities, SBI Capital Markets and Equirus Capital are running lead managers to this IPO and equity shares will be listed on NSE and BSE.

Image Source: Shri Bajrang Power