Shivalaya Construction files DRHP for IPO

Shivalaya Construction has filed a DRHP with SEBI for an IPO. The IPO comprises a fresh issuance of Rs 4.5 billion and an OFS component up to 24,861,900 equity shares. The proceeds from the issue up to Rs 3.4 billion will be allocated towards debt repayment and the remaining towards general corporate purposes. The company may also consider pre-IPO placement of up to Rs 900 million. If raised, the issue size will be adjusted accordingly.