Kumar Arch Tech files draft papers to raise Rs 740 crore via IPO

New Delhi: Kumar Arch Tech, which is into PVC blend-based building material products manufacturing, has filed preliminary papers with capital markets regulator Sebi to garner Rs 740 crore through an initial public offering (IPO). The proposed IPO is a mix of fresh issuance of shares valued Rs 240 crore, and an offer-for-sale (OFS) of shares worth Rs 500 crore by promoters, according to the draft papers filed on Friday.

Also, the company may mop up Rs 48 crore in pre-IPO placement round. If such placement is carried out, fresh issue size will be reduced.