IPO Watch - India1 Payments files IPO papers with SEBI, mulls pre-IPO placement – proceeds to be used to repay debt, fund capital expenditure
The initial share-sale comprises fresh issuance of equity shares worth Rs 150 crore and an offer for sale (OFS) of 10,305,180 equity shares by promoters and investors, according to the draft red herring prospectus (DRHP)
Proceeds from the fresh issue will be utilised to repay debt, fund capital expenditure requirements of the company for setting up of ATMs in India and for general corporate purposes