Puranik Builders has filed draft papers with Sebi to raise approx  Rs.1,000 crore, through an initial public offer (IPO).

As per the draft papers with Sebi, the IPO comprises fresh issue of shares worth Rs.810 crore, besides, an offer for sale up to 18,59,620 equity shares by the company’s promoters and existing shareholders.

The company’s public issue will be managed by Edelweiss Financial Services and IIFL Holdings. Further, the proceeds of the issue will be used for repayment of loan and other general corporate purposes.

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