Mohali-based Jai Parvati Forge Limited files DHRP for IPO

Mohali  : Mohali -based Jai Parvati Forge Limited has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO) crore. The IPO, with a face value of Rs 2, is a fresh issue for up to Rs 300 crore and an offer-for-sale for up to 9,000, 000 equity shares by promoter – Suman Chauhan. The company, in consultation with the book-running lead managers, may consider a Pre-IPO Placement, prior to filing the Red Herring Prospectus with RoC. If the pre-IPO placement is completed, the amount raised pursuant will be reduced from the Fresh Issue. The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively. Incorporated in 2004, the company has established itself as an integrated manufacturer of forged and machined components with over 22 years of operating history, supplying bull gears, transmission gears & shafts and precision machined parts. The company manufactures components involving complex geometries, tight dimensional tolerances, stringent surface-finish requirements and multiple manufacturing operations, supported by its integrated capabilities across design and engineering, die manufacturing, forging, heat treatment, gear manufacturing, precision machining and finishing.The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.