Sadbhav Engineering Ltd arm files DRHP for IPO

Sadbhav Infrastructure Project Limited, a subsidiary of Sadbhav Engineering Limited, has filed its draft red herring prospectus with the Securities and Exchange Board of India ("SEBI") on May 26, 2015 in order to undertake an initial public offering of its equity shares (the "Issue"). The Issue consists of a fresh issue of equity shares of Rs. 10 each (the "Equity Shares") aggregating up to Rs. 4,250 million and an offer for sale of up to 8,102,996 Equity Shares by Xander Investment Holding XVII Limited and up to 4,853,643 Equity Shares by Norwest Venture Partners VII-A-Mauritius.

Shares of SADBHAV ENGINEERING LTD. was last trading in BSE at Rs.286.55 as compared to the previous close of Rs. 281.1. The total number of shares traded during the day was 18963 in over 717 trades.

The stock hit an intraday high of Rs. 291 and intraday low of 283.5. The net turnover during the day was Rs. 5458439.

Source : Equity Bulls

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