New Delhi, July 3 -- Automotive component manufacturer firm Fourfront has filed draft papers at Bombay Stock Exchange (BSE) to launch public issue at BSE SME.

The company has submitted its Draft Red Herring Prospectus (DRHP) to BSE SME as part of its upcoming IPO. The company plans to issue 65,00,000 new equity shares, each with a face value of Rs.10.

The IPO proceeds will be used for part-financing the Proposed Project FF, meeting additional working capital needs, investing in its wholly owned subsidiary for the Proposed Project EV, funding the subsidiary's working capital requirements, and for general corporate purposes. These funds will help the company achieve its strategic goals and enhance its market position.

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