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Amar Ujala files for an IPO

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Amar Ujala files for an IPO

The leading Hindi daily which publishes Amar Ujala has filed draft papers with capital markets Security Exchange Board of India (SEBI) to increase funds via an Initial Public Offer.

The offerings explained all the details of the company about its working process. The face value of the equity share is Rs 10 each.

The draft document says, “The fresh issue of equity shares worth Rs 50 crore and an offer for sale of up to 26.90 lakh equity shares by existing shareholders.”

The draft stated that shareholders are Rajul Maheshwari, MD, Amar Ujala, Sneh Lata Maheshwari and Pun Undertakings Pvt Ltd and the draft also mentioned all the four promoters of the company. They are Rajul Maheshwari, Sneh Lata Maheshwari , Tanmay Maheshwari and Antarctica Finvest Private Limited. Axis Capital and IDFC Securities are managing the issue of Amar Ujala. 

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