Automotive OEM component supplier Sandhar Technologies today filed its Draft Red Herring Prospectus (DRHP) with market regulator SEBI seeking permission for its IPO.

The IPO consists of a fresh issue of equity shares aggregating up to Rs 3,000 million and offer for sale of upto 5,115,456 equity shares by GTI Capital Beta Pvt Ltd at a face value of Rs 10 each at a price band to be decided later.

The net proceeds from the Issue will be utilised for the establishment of a new manufacturing facility at Hosur, Tamil Nadu, repayment/pre-payment, in full or part, of certain borrowings and general corporate purposes.

The promoter of the company is Mr. Jayant Davar.

ICICI Securities Limited, IDFC Securities Limited, IIFL Holdings Limited and Jefferies India Private Limited are the Book Running Lead Managers to the issue and Link Intime India Private Limited is the registrar.