Rays Power Infra files DRHP with SEBI to raise Rs 11.5 billion
Rays Power Infra has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) to raise up to Rs 11.5 billion through an initial public offering (IPO). The IPO will comprise a fresh equity issue of Rs 9 billion and an offer-for-sale of up to Rs 2.5 billion by promoters and a shareholder. According to the DRHP, Rs 5 billion from the proceeds will be directed to Rays Green…