Sathya Agencies Files Rs 600-Cr IPO Draft with Sebi

• Consumer electronics retailer Sathya Agencies Ltd has filed preliminary papers with Sebi for a Rs 600 crore IPO.
• The IPO consists of a fresh issue of Rs 300 crore and an Offer For Sale (OFS) of Rs 300 crore by promoters.
• Promoters Johnson Asaria, J John Sathya, and Charles Packiaraj will each offload shares worth Rs 100 crore.
• Proceeds from the fresh issue will be used for debt repayment, acquisition of Unilet Appliances, and general corporate purposes.
• The company operates retail stores across Andhra Pradesh, Kerala, Tamil Nadu, Puducherry, and Karnataka.