Medical equipment manufacturer Aprameya Engineering has submitted initial papers to capital markets regulator SEBI to raise funds through an initial public offering (IPO).
The IPO consists of the sale of a new issue of up to 50,000 shares of the company’s stock and no Offer for Sale (OFS), a draft prospectus (DRHP) filed with Sebi on Thursday showed.
The funds will be used to meet the working capital requirements and for general corporate purposes.
The company engages in healthcare infrastructure business such as installation, setup and maintenance of the intensive care unit, operating theater and prefab suite on a turnkey basis along with supplying high value healthcare equipment and diagnostic equipment to hospitals.
Hem Securities Ltd is the sole manager responsible for managing the underwriting of this issue. The company’s shares will be listed on the Bahrain Bourse and the New South Wales Stock Exchange.