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JK Files & Engineering files DRHP with SEBI for Rs 800 crore IPO

14 Dec 2021 Evaluate

JK Files & Engineering has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 800 crore through an initial public offering (IPO).

The public issue is entirely an offer of sale (OFS) of equity shares to the tune of Rs 800 crore by promoter Raymond. At present, Raymond, the country's leading player in suiting and shirting, holds 100 per cent stake in the company. SBI Capital Markets, DAM Capital Advisors (formerly known as IDFC Securities) and HDFC Bank are the book running lead managers to the issue.

JK Files & Engineering is engaged in the manufacturing of precision engineered components for tools and hardware (files and drills) and marketing of hand tools, power tool accessories and power tool machines and manufacturing of auto components and engineering products -- RNG gears, flexplates and water pump bearings.

Peers
Company Name CMP
BHEL 404.65
Thermax 4681.15
Kirloskar Oil Eng 1727.60
Skipper 466.10
GMM Pfaudler 894.95
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