RK Steel Manufacturing Company has secured Securities and Exchange Board of India’s (SEBI's) approval to raise funds through initial public offering (IPO). The company's IPO is entirely a fresh issue of up to 2 crore equity shares with no OFS component.
The company plans to allocate funds towards repayment or prepayment of certain borrowings, working capital requirements, and general corporate purposes. The shares of the company are proposed to be listed on BSE and NSE.
The company specializes in the manufacturing of a diverse range of products, including HR Pipes, GP Pipes, GI Pipes, CRFH Pipes, CRCA Pipes, as well as GP and CRFH Coils.