Vectus Industries, a leading B2C (business-to-consumer) focused water storage and piping solutions provider, today filed draft papers with the Sebi to raise an estimated Rs 500 crore through an initial public offering.
The IPO comprises fresh issue of shares worth Rs 85 crore, besides, an offer for sale of up to 38,98,575 equity shares by the existing shareholders, according to the draft papers filed with the Securities and Exchange Board of India (Sebi).
Private equity firm Latinia Ltd will sell 28,46,829 equity shares through this IPO, 6,57,341 equity shares will be offered by Ashish Baheti and up to 3,94,405 equity shares by Atul Ladha.
According to merchant banking sources, the IPO is expected to fetch Rs 500 crore.
Edelweiss Financial Services Ltd, ICICI Securities Ltd and IDFC Bank Ltd will manage the company's initial public offer (IPO).
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