Deepa Jewellers aims to raise Rs 250 cr via fresh issue

New Delhi: Deepa Jewellers has filed preliminary papers with markets regulator Sebi to raise funds through an Initial Public Offering (IPO).

The Hyderabad-based company’s proposed IPO will be a combination of a fresh issue of shares worth Rs 250 crore along with an offer for sale of 11,848,340 shares by promoters-- Ashish Agarwal and Seema Agarwal, according to the Draft Red Herring Prospectus filed on Monday.

Proceeds from its fresh issuance worth Rs 215 crore will be utilised for funding long-term working capital.