Navkar Corporation files paper with Sebi for Rs 600-cr IPO

Navkar Corporation has filed draft documents with capital markets regulator Sebi to garner up to Rs 600 crore from initial public offer (IPO).
The Maharashtra-based firm would mobilise up to Rs 510 crore by issuing fresh equity shares, while Sidhhartha Corporation would rake in up to Rs 90 crore through sale of existing shares, according to draft documents filed with Securities and Exchange Board of India (Sebi).
The funds would be used for capacity enhancement of the Somathane container freight station (CFS), development of the non-notified areas of CFSs and establishment of a logistics park at Valsad in Gujarat.
The issue is being managed by Axis Capital, SBI Capital Markets and Edelweiss Financial Services.

This is the ninth draft document filed with Sebi to float an IPO, since January.
Among the firms that have already filed IPO papers are Catholic Syrian Bank, Amar Ujala Publications, AGS Transact Technologies, S H Kelkar and Company, Shree Shubham Logistics, Precision Camshafts, Pennar Engineered Building Systems and SSIPL Retail.