Aaradhya Disposal Files DRHP At NSE Emerge

New Delhi: Aaradhya Disposal Industries, a manufacturer and exporter of high-quality eco-friendly paper products, on Tuesday said it has filed preliminary papers with NSE Emerge to mop-up funds through an initial public offering (IPO).

The IPO is a fresh issuance of up to 36.96 lakh equity shares with a face value of Rs 10 each, the company said in a statement. The shares of the company will be listed on the SME platform of National Stock Exchange (NSE) Emerge, according to the draft red herring prospectus (DRHP).

The company intends to utilise the IPO proceeds worth Rs 20 crore to fund the working capital requirement, Rs 16.56 crore to fund ex-pansion of the company, that includes capital expenditure towards purchase of plant and machin-ery and civil work.