Sathya Agencies files draft papers with Sebi for Rs 600-cr IPO

New Delhi: Consumer electronics retailer Sathya Agencies Ltd has filed preliminary papers with markets regulator Sebi to raise Rs 600 crore through an initial public offering (IPO).

The proposed IPO comprises a fresh issue of equity shares aggregating to Rs 300 crore and an offer for sale (OFS) of equity shares worth Rs 300 crore by promoters, taking the total offer size to Rs 600 crore, according to the draft red herring prospectus (DRHP) filed on Monday.

The OFS includes the sale of shares by promoters -- Johnson Asaria, J John Sathya and Charles Packiaraj. Each of them will offload equity shares valued at Rs 100 crore.