Mumbai-based Tribhovandas Bhimji Zaveri today filed a draft red herring prospectus (DRHP) with the market regulator Sebi for its initial public offer (IPO).
The company is planning to raise funds through the IPO by issuing 16.66 million shares. The issue constitutes 25 per cent post issue paid up capital of the company.
The IPO proceeds will be used for setting up new showrooms and for working capital needs.
IDFC Capital and Avendus Capital are the book running lead managers to the issue.