Yogiji Digi raises Rs 39 cr through pre-IPO placement

New Delhi, Nov 5 (PTI) Yogiji Digi Ltd, an indigenous flat steel processing solutions provider, has raised Rs 39 crore from investors through a pre-IPO placement ahead of its proposed initial public offering (IPO).

     The company allotted 18,05,555 equity shares at Rs 216 apiece to 11 investors in the placement undertaken on November 4.

     The investors included RB4 Finance and Investment Co, Mayveen Partners, Sameeh Trinity Partners and Lunor Commercials Pvt Ltd, according to a public announcement on Thursday.

     The company said the proceeds from the pre-IPO placement would be adjusted against the fresh issue component of the IPO, subject to applicable conditions.

     Yogiji Digi, formerly known as Yogiji Digi Pvt Ltd, had filed draft papers with markets regulator Sebi in July for an IPO comprising a fresh issue of equity shares worth up to Rs 270 crore and an offer for sale (OFS) of 71.71 lakh shares.

     The company plans to utilise the proceeds from the fresh issue to meet its working capital requirements, prepay or repay certain outstanding borrowings and for general corporate purposes.

     Navneet Singh, Sameer Bansal and Satish Kumar Tripathi are the promoters of the company.

     Emkay Global Financial Services and Systematix Corporate Services are the book-running lead managers to the issue, while Bigshare Services is the registrar.

(This story has not been edited by THE WEEK and is auto-generated from PTI)