Pioneer Fil-Med Files Rs 500 Cr IPO Papers with Sebi

• Pioneer Fil-Med Ltd, a railway components maker, has filed draft papers with Sebi for a Rs 500 crore Initial Public Offering (IPO).
• The IPO consists of a fresh issue of equity shares worth Rs 250 crore and an Offer For Sale (OFS) of Rs 250 crore by existing shareholders.
• Promoters Pioneer Facor IT Infradevelopers and Aztech India will each offload shares worth up to Rs 125 crore in the OFS.
• Proceeds from the fresh issue will fund new gearbox and wind generator components manufacturing facilities in Salarpur, Bhiwadi, Rajasthan.
• Nuvama Wealth Management and Equirus Capital are the book running lead managers for the issue.