Auto Recycling Systems Limited (ARS) has filed its Draft Red Herring Prospectus on the Bombay Stock Exchange SME platform for a book-built offer for an entirely fresh issue of 69,00,000 shares, with an offer size of ₹72.26 crore+.
Legacy Law Offices Auto Recycling Systems as well as the Book Running Lead Manager, Finaax Capital Private Limited, on this SME IPO.
The transaction team comprised of Naman Anand (Counsel), Yash Dogra (Senior Associate), and Associate Anushka Indurkar.
Surbhi Narang (Partner) provided strategic inputs.
ARS is engaged in the business of manufacturing aluminium ingots using recycled aluminium scrap as the primary raw material. In addition to its manufacturing operations, it is also involved in the trading of aluminium scrap and other non-ferrous scrap materials, as well as the scrap and wastage generated from our manufacturing process.
The IPO will fund working capital requirements, capex for the construction of a pre-engineered industrial shed, purchase of plant and machineries, and general corporate purposes.
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