Sustainable and Affordable Energy for Life Industries Limited (SAEL) has filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) to raise approximately Rs 45.75 billion through an initial public offering (IPO).
The IPO comprises a fresh issue of equity shares worth around Rs 37.50 billion and an offer for sale of about Rs 8.25 billion by existing shareholders. The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.