Shivalik Engineering Industries Set to Launch IPO, Aims to Raise Rs 335 Crore

Shivalik Engineering Industries Ltd has filed draft papers with SEBI to launch an IPO aiming to raise Rs 335 crore. The company plans to use the funds for setting up a solar plant, expanding foundry capacity, and general corporate purposes. Revenue and profit surged significantly in the fiscal year 2023.

Shivalik Engineering Industries Ltd has announced plans to raise Rs 335 crore through an initial public offering (IPO) as per its draft papers filed with the market regulator SEBI.

The IPO includes a fresh issue of shares worth Rs 335 crore and an offer for sale of up to 41.3 lakh equity shares by promoters and shareholders. A portion of the IPO has been reserved for eligible employees.

Proceeds from the IPO will be utilized for setting up a solar plant, expanding existing foundry capacity, and for general corporate purposes.