Chennai, March 31 -- Tamil Nadu-based consumer durables retail chain player Sathya Agencies Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to Rs 6,000 million through an Initial Public Offering (IPO).
The offer includes a fresh issue of up to Rs3,000 million and an offer for sale of up to Rs 3,000 million by the promoter selling shareholders Johnson Asaria, J John Sathya, and Charles Packiaraj.
The company proposes to utilize the Net Proceeds from the Fresh Issue towards payment of partial purchase consideration for the acquisition of wholly owned Subsidiary, Unilet Appliances Private Limited at Rs 350 million; repayment or prepayment, in full or part, of certai...