India, Dec. 20 -- Budget hotel chain FabHotels' parent Travelstack Tech recently filed its draft red herring prospectus (DRHP) with SEBI to raise INR 250 Cr from the public market.

The company's public offering will comprise a fresh issue of equity shares worth up to INR 250 Cr and an offer-for-sale (OFS) component of up to INR 2.68 Cr. Cofounders Vaibhav Aggarwal and Adarssh Mnpuria are looking to offload 35.82 lakh shares and 17.91 lakh shares, respectively, as part of the OFS.

Shaadi.com founder Anupam Mittal, who is an investor in the company, plans to sell 10.37 lakh shares, as per the DRHP. Other selling shareholders include PGP India Growth Fund, Accel India, Panthera Partners and Qualcomm Asia Pacific.

Aggarwal and Mnpuria own ...