Encube Ethicals files DRHP with SEBI for Rs 3,000 crore IPO

Mumbai-based Encube Ethicals has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The IPO, with a face value of Re 1 per equity share, comprises an offer for sale of Rs 3,000 crore by promoter Mehul Madhusudan Shah and investor selling shareholder Frontier Investment Holdings Pte. Ltd. The issue is being made through the book-building process in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations. Under the issue structure, not more than 50 per cent of the offer is reserved for Qualified Institutional Buyers (QIBs), not less than 15 per cent for Non-Institutional Investors (NIIs), and not less than 35 per cent for Retail Individual Investors (RIIs). The post Encube Ethicals files DRHP with SEBI for Rs 3,000 crore IPO appeared first on Express Pharma.