GENERAL23 Sept 2026
PM Cona Ind files draft IPO papers to raise ₹120 cr via fresh equity
Mumbai-based electrical products maker PM Cona Industries has filed draft papers with market regulator Sebi for an initial public offering (IPO). It plans a fresh share issue worth up to ₹120 crore, plus an offer for sale of 45 lakh shares by promoter Prakash Naraindas Motwani. The money will fund plant, machinery, 50 new showrooms and marketing. Shares will list on BSE and NSE.
Key Statutory Highlights
- PM Cona Industries Ltd has filed a draft red herring prospectus with Sebi for an IPO.
- The IPO has a fresh issue of equity shares worth up to ₹120 crore and an offer for sale of 45 lakh shares by promoter Prakash Naraindas Motwani.
- The fresh issue money will go into plant, equipment and machinery, 50 new display showrooms, brand building and general corporate purposes.
Actionable Advice for Taxpayers / Founders:This is only a draft filing, so no shares are open for bidding yet. If you may be interested later, read the final prospectus and price band carefully once they are published, and take your own advice before investing.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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