Oilfield services firm Shivganga Drillers files for Rs 400 crore IPO

• Shivganga Drillers filed draft papers with SEBI for an IPO to raise up to Rs 400 crore.
• The IPO is a fresh issue, with plans for an Rs 80 crore pre-IPO round.
• Funds will be used for purchasing plant/machinery (Rs 285 crore), repaying debt (Rs 85.5 crore), and general corporate purposes.
• The oilfield services provider aims to add two new rigs to its current fleet of five using IPO proceeds.
• Shivganga Drillers reported strong financials, with FY25 profit doubling to Rs 62.3 crore and revenue increasing 84% to Rs 354.4 crore.

Why It Matters: This IPO could boost Shivganga Drillers' growth and financial stability.