Anjali LabTech Files Updated Papers For ₹1,225 Cr IPO
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Anjali LabTech has filed updated DRHP papers for a ₹1,225 crore IPO. This includes a ₹925 crore fresh issue and ₹300 crore promoter OFS.
Lab-grown diamond manufacturer Anjali LabTech Ltd has filed updated draft papers with the Securities and Exchange Board of India (SEBI) for a ₹1,225 crore initial public offering (IPO).
The Surat-based company had earlier received SEBI approval to launch the IPO in February. It had submitted its draft papers through the confidential filing route.
IIFL Capital Services Ltd and Axis Capital Ltd have been appointed as the book-running lead managers for the proposed IPO.
What Is The Proposed Anjali LabTech IPO Structure?
The proposed IPO comprises a fresh issue of shares worth ₹925 crore and an offer for sale (OFS) of ₹300 crore by promoters, according to the updated draft red herring prospectus (DRHP) filed on Thursday.
Anjali LabTech may also raise up to ₹185 crore through a pre-IPO placement. If the placement goes ahead, the size of the fresh issue will be reduced accordingly.
How Will Anjali LabTech Use The IPO Proceeds?
The company plans to use the fresh issue proceeds for capital expenditure related to manufacturing and the captive installation of MPCVD machines. These machines will support the in-house production of rough lab-grown diamonds.
Some part of the funds will also be used in the construction and development of Anjali Corporate House at Moje Kosmada in Surat, Gujarat. The company plans to use the proceeds for debt repayment and general corporate purposes as well.
What Does Anjali LabTech Do?
Anjali LabTech was established in 2021. It is a major player in the Indian lab-created diamond industry and operates across the entire value chain. Presently, the company has seven manufacturing units in Surat.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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