NEW DELHI: Electronics manufacturing services provider Saint DLM has applied to the stock exchange regulator SEBI for permission to come up with an IPO.
The company has said in the application that it plans to raise funds of Rs 740 crore through the issue of new shares.
that during this issue of shares, only new shares are to be sold; It has also been informed that none of the shares held by the founders and shareholders will be sold.
The company plans to use the proceeds from the share issue for capital expenditures, debt repayment, acquisition activities and general corporate expenses.
The company is a subsidiary of the famous ‘Sign’ company.
The company has three factories in India namely Hyderabad, Bengaluru and Mysore.
The issue of shares is managed by ‘JM Financial’. The shares of the company are planned to be listed on the Mumbai Stock Exchange and the National Stock Exchange.
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