GNG Electronics Eyes Rs 825 Cr

New Delhi: GNG Electronics Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The proposed IPO is a combination of a fresh issue of equity shares aggregating up to Rs 825 core and an offer for sale (OFS) of up to 97 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP) filed on Saturday. The OFS comprises sale of 35,000 shares each by Sharad Khandelwal and Vidhi Sharad Khandelwal and 96.30 lakh shares by Amiable Electronics.