Monday, February 17, 2025

Jaipur-based Jajoo Rashmi Refractories files DRHP for Rs 150 crore IPO

Jaipur-based Jajoo Rashmi Refractories Limited manufacturer and exporter of various grades of ferro alloys, such as, ferro silicon, ferromanganese and silico manganese, an essential raw material in manufacturing of steel in the steel industry, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board
of India (SEBI) to raise Rs 150 crore through Initial Public Offering (IPO).

The IPO with a face value of Rs 10 is entirely a fresh issue of shares up to Rs 150 crore with no offer for sale component.

The proceeds from the fresh issue to the extent of Rs 61.83 crore will be used for part finance the cost of establishing new manufacturing facilities to expand its production capabilities of ferro alloys in the Proposed Bokaro Project, Rs 47.67 crore for funding working capital requirements of its Company and general corporate purposes.

Unistone Capital Private Limited is the sole book-running lead manager and Big share Services Private Limited is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.

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