Pennar Engineered Buildings Systems, a subsidiary of Pennar Industries, has filed a Draft Red Herring Prospectus (DRHP) for an initial public offer (IPO) with the Securities Exchange Board of India (SEBI) on March 27.
The proposed initial public offer consists of fresh issue of equity shares and offer for sale by selling shareholders.
Pennar Industries is engaged in the manufacturing of Cold Rolled Steel Strips (CRSS) and value-added products under Cold Rolled Formed Sections (CRFS) like precision tubes, engineered components, road safety systems, parts of railway coaches and Electro Static Precipitators (ESP).
