{"id":129350,"date":"2026-06-24T12:00:07","date_gmt":"2026-06-24T06:30:07","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=129350"},"modified":"2026-06-24T12:00:08","modified_gmt":"2026-06-24T06:30:08","slug":"sky-alloys-and-power-ipo-drhp-draft-papers-debt-reduction","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/sky-alloys-and-power-ipo-drhp-draft-papers-debt-reduction\/","title":{"rendered":"SKY Alloys and Power IPO: Company Files DRHP With SEBI, Plans to Use Proceeds for Debt Reduction and Capex"},"content":{"rendered":"
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SKY Alloys IPO DRHP filed with SEBI. Fresh issue: 1.61 crore shares. OFS: 0.18 crore shares. Total: 1.79 crore shares. FY25 revenue Rs 819 Cr, PAT Rs 53 Cr. Borrowings Rs 269.7 Cr. NSE+BSE listing.<\/em><\/p>\n

SKY Alloys and Power Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), seeking to raise funds through a mainboard Initial Public Offering (SKY Alloys IPO) comprising a fresh issue of up to 1,60,84,000 equity shares and an Offer for Sale (OFS) of up to 18,07,000 shares by promoters. The total SKY Alloys IPO size is 1,78,91,000 equity shares. The equity shares are proposed to be listed on both the National Stock Exchange (NSE) and BSE. A key stated objective of the SKY Alloys IPO is the repayment or prepayment of the company’s existing borrowings, which stood at Rs 2,697.09 million (approximately Rs 269.7 crore) as of the date of the DRHP filing. The company plans to use a significant portion of the fresh issue proceeds for this purpose, alongside funding capital expenditure for its ongoing operations and expansion. Ankit Jaiswal, Senior Research Analyst at Univest notes that the SKY Alloys IPO DRHP represents an important opportunity for investors to gain exposure to an integrated steel manufacturer from Chhattisgarh with a growing renewable energy footprint.<\/p>\n

The SKY Alloys IPO is a book-built offer being managed by Gretex Corporate Services Limited and Arihant Capital Markets Limited as Book Running Lead Managers, with MUFG Intime India Private Limited as the registrar. The price band, lot size, and opening\/closing dates for the SKY Alloys IPO will be announced in consultation with the BRLMs after SEBI review and observations. The promoters of the company are Ravi Singhal, Sandeep Agrawal, and Nisha Singhal, with Ravi Singhal and Nisha Singhal participating in the OFS component. A pre-IPO placement of up to 32,00,000 shares is also possible ahead of the final Red Herring Prospectus filing, which would proportionally reduce the SKY Alloys IPO size.<\/p>\n

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