Finally, Century Metal Recycling has submitted the draft papers with the markets regulator Sebi for the initial public offering (IPO). The offer consists of fresh issues of shares up to INR 150 Cr. & share up to 6,402,650 for sale. About Century Metal Recycling is a prominent producer of aluminum-based die-cast alloys & zinc alloys.

The promoters of this IPO are Mohan Agrawal (~ 788,955 shares) and Gauri Shankar Agarwala (~ 793,243). According to DRHP (Draft Red Herring Prospectus) fresh issue will see the sale of approx. 2,550,386 equity shares by the Global Scrap Processors, approx. 573,520 by the Grand Metal Recycling Private Limited and 527,484 shares by the Sanjivani Non-Ferrous Trading Private Limited.

The fund raised from the IPO will be used for prepayment or repayment of recent borrowing taken by the company & general corporate purposes.

Edelweiss Financial Services and ICICI Securities were the booking lead managers to the fresh issue.