PTI reported on Friday citing market sources. The company may launch the initial public offering (IPO) by December-end, they added.
The IPO comprises fresh issuance of equity shares worth ₹300 crore and an offer for sale (OFS) of 89.22 lakh equity shares by promoter and existing shareholders, according to the Draft Red Herring Prospectus (DRHP).
The OFS comprises sale of up to 18.83 lakh equity shares by promoter Mukesh Luthra, up to 18.97 lakh equity shares by OIH Mauritius Ltd and 52.42 lakh equity shares by Leon International.
Currently, Vandana Luthra and Mukesh Luthra hold 44.35 per cent and 24.37 per cent stake in the company, respectively. Also, Leon International owns 13.65 per cent stake and OIH Mauritius has 5.04 per cent