Sona Machinery Files DRHP With NSE Emerge

Agro-processing equipment maker Sona Machinery Ltd on Monday said it has filed draft papers to launch a public issue.

The company, in a statement, said it has filed the Draft Red Herring Prospectus (DRHP) with the NSE Emerge -- the SME platform of the National Stock Exchange (NSE).

The IPO comprises a fresh issue of up to 3,624,000 equity shares with a face value of Rs 10 each, as per the statement.

The company will use the funds to set up a new manufacturing unit to expand its operational capabilities and manufacturing output to cater to the ever-rising demand of its products among customers, it said.