Sathya Agencies readies ₹600cr IPO split into 2 300cr parts
Business
Sathya Agencies, a popular electronics retailer from Tamil Nadu, is gearing up for a ₹600 crore IPO.
The offer splits into two parts: ₹300 crore in new shares to raise fresh funds, and another ₹300 crore worth of shares being sold by the company's promoters.
Sathya Agencies may secure ₹60cr pre-IPO
The fresh funds will help Sathya Agencies pay off debt, buy more of its subsidiary Unilet Appliances, and handle general expenses.
If they secure up to ₹60 crore in pre-IPO funding, the public offer size could shrink a bit.
Anand Rathi Advisors and Motilal Oswal are leading the IPO process.
Founded in 2005, Sathya runs stores across South India and hopes this move boosts its brand visibility.