IPO
Master Chains N Jewels files to raise Rs.400-Cr in fresh issue
Mumbai-based Master Chains N Jewels has filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO).The transaction includes a fresh issue of equity shares worth INR 400 crore and an offer for sale of 59.06 lakh equity shares by promoter Taruna Madan Kothari. Systematix Corporate Services is the sole book-running lead manager to the issue.Founded in 1997 by Madan Kothari, Master Chains N Jewels designs, manufactures and distributes a range of gold jewellery, including lightweight products, and provides job-work services. The firm intends to use the proceeds from the issue to meet working capital requirements.
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