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Raymond gains 3% after JK Files & Engineering files DRHP with SEBI for IPO

Raymond-promoted JK Files & Engineering has filed draft red herring prospectus with the capital markets regulator Sebi to raise funds via initial public offering.

The company is planning to raise Rs 800 crore through its public issue that comprises entirely an offer for sale by the promoter Raymond. Hence the company will not get any money from public issue and all the money will go to selling shareholder.

The offer will include reservation of shares for employees and shareholders.