Oswal Energies files IPO papers with SEBI

Oswal Energies has submitted the Draft Red Herring Prospectus(DRHP) to the SEBI for its upcoming Initial Public Offering(IPO). The IPO will consist of a fresh issuance of equity shares amounting to Rs 250 crore, along with an offer-for-sale of 46 lakh shares by the Bokadia family.

Oswal Energies is an Engineering, Procurement, and Construction (EPC) company and manufacturer of process equipment and packages, offering end-to-end solutions from concept to commissioning. The company serves various industries within the energy sector, such as oil and gas, power, and petrochemicals, through its manufacturing facility located in Gandhinagar, Gujarat.

Oswal Energies plans to use Rs 177.1 crore from the fresh issue proceeds to meet its long-term working capital needs, with the remaining amount allocated for general corporate purposes.

Monarch Networth Capital is appointed as the merchant banker for the Oswal Energies IPO.