Chennai, Aug 4: Mumbai-based Encube Ethicals Limited has filed its Draft Red Herring Prospectus with capital markets regulator, Securities and Exchange Board of India for its Initial Public Offering.
The IPO, with a face value of Re 1, is a complete offer for sale of Rs 3000 crore by promoters – Mehul Madhusudan Shah, and Investor Selling Shareholder – Frontier Investment Holdings Pte. Ltd.
The issue is being made through the book-building process, in line with SEBI ICDR Regulations, wherein not more than 50% reserved for Qualified Institutional Buyers, not less than 15% for Non-Institutional Investors , and not less than 35% for Retail Individual Investors .