Shankara BuildPro files for Rs 400-450-cr IPO

Bangalore-based retailer Shankara BuildPro, which is into home improvement and building products, has filed for an initial public offering to raise about Rs 450 crore. According to market sources, the company has filed the draft red herring prospectus (DRHP) with the market watchdog Sebi today and proposes to mop up between Rs 4 Bangalore-based retailer Shankara BuildPro, which is into home improvement and building products, has filed for an initial public offering to raise about Rs 450 crore.

According to market sources, the company has filed the draft red herring prospectus (DRHP) with the market watchdog Sebi today and proposes to mop up between Rs 400 crore and Rs 450 crore through the sale, which will involve promoters and investors diluting their stakes to the tune of 35 per cent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Source:http://www.business-standard.com/article/pti-stories/shankara-buildpro-files-for-rs-400-450-cr-ipo-116092901117_1.html

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