Sai Infinium's Ambitious IPO to Fuel Expansion in Gujarat

Sai Infinium, a Gujarat-based company, has filed for an IPO to raise funds. The capital will be used for a hybrid power plant, a rolling mill, a cargo vessel, and other corporate needs. Sarthi Capital Advisors manages the IPO, with shares to be listed on BSE and NSE.

Sai Infinium, a company based in Gujarat, has taken a significant step by filing draft papers with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) aimed at raising capital.

This IPO consists entirely of a fresh issue of 1.96 crore equity shares, with no offer-for-sale components. The funds, totaling Rs 214 crore, are earmarked for several purposes including the construction of a 17.4-MW hybrid power plant, the purchase of a rolling mill for mild steel (MS) structures, and acquiring a cargo vessel for shipbreaking activities.

Primarily involved in the manufacturing of MS billets and TMT bars, shipbreaking, and real estate, Sai Infinium plans to list the equity shares on BSE and NSE. The IPO is managed by Sarthi Capital Advisors, who are leading the process.

(With inputs from agencies.)