Hi-Green Carbon on Wednesday mentioned it has filed preliminary papers for an preliminary public providing. The shares shall be listed on NSE Emerge, a platform for small and medium enterprises.
The Gujarat-based agency, which is into recycling of waste tyres, plans to provide up to 76 lakh fairness shares with a face worth of Rs 10 every by means of the book-building course of.
In the Initial Public Offering (IPO), there shall be a contemporary concern of 60 lakh shares and 16 lakh shares shall be offloaded by means of the provide for sale route by the promoter group, it mentioned in a press release.
Proceeds from the general public concern shall be utilised to arrange a brand new facility in Dhule district of Maharashtra, with a recycling capability of 100 MT waste tyres per day.
The proceeds can even be utilised for working capital necessities and different common company functions.
The firm has appointed Beeline Capital Advisors as e book working lead supervisor to the difficulty.
Hi-Green Carbon is the flagship firm of Rajkot-based Radhe Group of Energy.
For the 12 months ended March 2023, Hi-Green Carbon reported a complete income of Rs 79.03 crore and a internet revenue of Rs 10.49 crore.
