Latest News | Sona Machinery Files DRHP with NSE Emerge

New Delhi, Dec 4 (PTI) Agro-processing equipment maker Sona Machinery Ltd on Monday said it has filed draft papers to launch a public issue.

The company, in a statement, said it has filed the Draft Red Herring Prospectus (DRHP) with the NSE Emerge -- the SME platform of the National Stock Exchange (NSE).

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The IPO comprises a fresh issue of up to 3,624,000 equity shares with a face value of Rs 10 each, as per the statement.

The company will use the funds to set up a new manufacturing unit to expand its operational capabilities and manufacturing output to cater to the ever-rising demand of its products among customers, it said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)