Shivganga Drillers files Rs 400-cr IPO papers with Sebi

• Shivganga Drillers filed preliminary papers with Sebi for a Rs 400-crore Initial Public Offering (IPO).
• The IPO is a completely fresh issue of shares, with no offer for sale component.
• Proceeds will be used for purchasing plant and machinery, debt payment, and general corporate purposes.
• The company, an oilfield services provider, offers onshore drilling, offshore O&M, equipment rental, and project management.
• A potential pre-IPO placement of Rs 80 crore could adjust the fresh issue size.

Why It Matters: New IPO offers investment opportunity in oilfield services.