Master Chains N Jewels files IPO papers with Sebi; eyes Rs 400 cr via fresh issue

Master Chains N Jewels has filed draft red herring prospectus (DRHP) with Sebi for its proposed IPO, comprising a fresh issue of equity shares worth up to Rs 400 crore and an Offer for Sale of up to 59.06 lakh shares by promoter Taruna Madan Kothari. Proceeds from the fresh issue will be used for funding working capital requirements and general corporate purposes. The Mumbai-based company designs, manufactures and sells gold jewellery, operating two manufacturing units at Kala Chowki with an installed capacity of nearly 4,972.90 kilograms per annum.