Vardhman Appliances, Shreejikrupa Project file IPO papers with Sebi

New Delhi, Sep 30 (PTI) Consumer appliances company Vardhman Appliances Ltd and infrastructure development firm Shreejikrupa Project Ltd have filed preliminary papers with markets regulator Sebi to raise funds through Initial Public Offerings (IPOs).

Vardhman Appliances’ proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 250 crore and an Offer For Sale (OFS) of up to 2.50 crore equity shares, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.

Under the OFS, promoters and existing investor The Wealth Company Alternates Trust, India Inflection Opportunity Fund are proposing to sell shares.

The company plans to utilise the net proceeds from the fresh issue for setting up a new project in Baghpat, Uttar

Pradesh, and repayment or prepayment of certain outstanding borrowings.

A portion of the proceeds will also be invested in its wholly owned subsidiary Lazer India for repayment of its outstanding borrowings and general corporate purposes.

Vardhman Appliances is a vertically integrated electronics manufacturing services (EMS) provider offering original equipment manufacturing (OEM) and original design manufacturing (ODM) solutions across fast-moving electrical goods, including fans, kitchen appliances, home comfort appliances and electrical components.

It caters to leading national and international consumer appliance brands in the country.

Shreejikrupa Project’s proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 410 crore and an OFS aggregating up to Rs 90 crore by existing selling shareholders, according to the draft papers filed on Tuesday.

The company proposes to utilise the net proceeds from the fresh issue towards funding capital expenditure requirements, including the purchase and installation of equipment and machinery and scaffolding, part-funding its incremental working capital requirements and general corporate purposes.

Shreejikrupa undertakes a diversified range of infrastructure development and construction activities across academic and healthcare infrastructure, residential and office buildings, infrastructure works and other specialised projects.

As of June 30, 2026, Shreejikrupa had a portfolio of 228 infrastructure projects spread across 11 states and two Union Territories, of which 127 projects had been completed and 101 were ongoing.

The company’s order book stood at Rs 3,700.80 crore as of June 30, 2026.

On the financial front, the company’s revenue from operations stood at Rs 1,385.68 crore in FY2026, while profit stood at Rs 79.34 crore during the same period. PTI SP DR

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