IPO

Raymond board okays Rs.800-Cr IPO of subsidiary JK Files & Engg

Mint  

Raymond Ltd is to list its engineering and auto parts business arm JK Files & Engineering Ltd (JKFEL) via an IPO. The IPO will comprise a pure offer for sale of up to INR 800 crore. The shareholding of the company in JKFEL shall stand reduced by such number of shares as may be tendered for sale in the OFS. However, post-IPO, JKFEL shall continue to remain a material subsidiary of the company.

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