Kent RO Systems has filed preliminary papers with markets regulator - Sebi seeking approval to float an initial public offering (IPO). The issue is completely an offer of sale (OFS) of 1 crore equity shares by promoters. Since it is an OFS, the company will not receive any proceeds from the IPO. The objects of the offer is to achieve the benefits of listing the equity shares on the stock exchanges.
Promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta are offloading shares in the OFS. Overall, promoters hold 99.77 per cent stake in the company at present.
Kent RO Systems manufactures and sells water purifiers, water softeners and kitchen and home appliances under its brand 'Kent' and brushless direct current (BLDC) fans under the brand 'Kuhl'.
