Madhavaa Crafts Limited files DRHP for NSE Emerge listing

Madhavaa Crafts Limited, a manufacturer of precision-engineered and machined components based in Coimbatore, India, has filed its Draft Red Herring Prospectus (DRHP) with the NSE Emerge platform of the National Stock Exchange of India Limited in preparation for an Initial Public Offering (IPO).

The IPO will consist of a fresh issue of up to 3,100,000 equity shares with a face value of ₹10 each, and will not include an offer for sale component. The company intends to use the proceeds to fund capital expenditure of approximately ₹1,912.05 lakhs for a new manufacturing facility in Coimbatore, meet working capital requirements of up to ₹1,050.46 lakhs, repay certain outstanding borrowings, and for general corporate purposes.

Originally incorporated in 2017 as Shivalaya Precision Components Private Limited, the company serves 12 different industries, including automotive, hydraulic, locomotive, and oil & gas. GYR Capital Advisors Private Limited is serving as the Book Running Lead Manager, while Bigshare Services Private Limited is the Registrar to the Issue.