Get latest articles and stories on Latest News at LatestLY. Auto parts manufacturer Kross Ltd and Saraswati Saree Depot Ltd have received Sebi's go ahead to raise funds through initial public offerings. Latest News | Kross, Saraswati Saree Depot Get Sebi's Go Ahead to Float IPO.
Sebi approves IPOs for Saraswati Saree Depot and Kross Ltd. Saraswati s offer includes fresh shares, OFS by Dulhani promoters. Kross Ltd s Rs 500 crore IPO comprises a fresh equity issue of Rs 250 crore and an offer for sale of Rs 250 crore.
Proceeds from the fresh issue will be used to set up new dedicated unit for expansion of the company s pick and carry cranes manufacturing capacity, payment of debt, investment in the company s NBFC subsidiary Barota Finance.