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The proposed IPO comprises a fresh issue of shares worth Rs 925 crore and an Offer For Sale (OFS) of Rs 300 crore by promoters, according to the updated Draft Red Herring Prospectus (DRHP) filed on Thursday. The filing comes after the regulator gave the Surat-based company its go-ahead to launch the IPO in February. The company had filed draft IPO papers with Sebi using the confidential route. As per the draft papers, the company may consider raising up to Rs 185 crore in a pre-IPO placement round. If this placement is undertaken, the fresh issue size will be reduced. The company plans to use proceeds of the fresh issue to fund capital expenditure for manufacturing and the captive installation of MPCVD machines to facilitate in-house growing of rough lab-grown diamonds; fund the construction and development of Anjali Corporate House at Moje Kosmada, Surat, Gujarat; pay down debt; and for general corporate purposes. Incorporated in 2021, Anjali LabTech is a vertically integrated Indian player in the Lab-Grown Diamond (LGD) industry with capabilities stretching across the entire value chain. Its vertically integrated operations are supported by seven manufacturing facilities in Surat -- a major hub in Gujarat that dominates the diamond sector, accounting for over 90 per cent of the country's LGD production. IIFL Capital Services Ltd and Axis Capital Ltd have been appointed as book-running lead managers to the public issue. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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