“Jash Engineering, a leading manufacturer of water and sewage treatment equipment, plans to raise Rs 58 crore through an initial public offering (IPO) on the NSE Emerge, the SME platform of the NSE. The company will issue 40 lakh shares through the IPO in a price band of Rs 115-120 a share. The IPO would comprise a fresh issue of 22.60 lakh shares and an offer-for-sale of 17.40 lakh shares,” reported The Hindu Business Line. The issue opened on September 28th and closed on October 3rd and it was a 100% book-built issue.

Rajani Associates acted as the sole legal advisors on the deal and for Jash Engineering, led by partner Sangeeta Lakhi, head of the domestic capital market department Sulakshna Sinha and associates Rahul Pandey, Amit Iyer and Kairav Parikh.

Systematix Corporate Services Limited was the Book Running Lead Manager to the issue.

The transaction included an offer for sale (OFS) and a pre-IPO placement along with fresh issue of equity shares, and involved legal diligence of Jash Engineering and preparing chapters for the Prospectus filed with Emerge Platform of NSE.