Srinivasan Ravi, K Gomatheswaran, and Marina III (Singapore) Pte Ltd and International Finance Corporation will sell half of the shares.
Srinivasan Ravi owns has a 52.83 per cent stake in the company, while IFC, Marina III (Singapore) and K Gomatheswaran hold 14.06 per cent 15.50 per cent and 7.04 per cent.
The book running lead managers to the issue are Axis Capital Ltd and IIFL Securities Ltd, while Link Intime India Private Ltd is the registrar to the public issue.
Ravi said that the company will use part of the the IPO proceeds for financing Rs 120 crore in borrowings and the balance for general corporate purpose portion.
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