Upcoming IPO, Dec. 30 -- Hyderabad-based Deepa Jewellers has filed its draft red herring prospectus with the capital market regulator Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) to raise funds.

Deepa Jewellers IPO is a mix of fresh share sale of up to Rs.250 crore and an offer for sale of 11.84 million shares by the promoters of the company. Ashish Agarwal and Seema Agarwal are the promoter selling shareholders of the company.

The company plans to use the fresh funds raised for funding long-term working capital needs towards procurement, maintenance and scaling up of inventory, along with general corporate purposes.

The IPO, being made through the book-building process, will reserve up to 50...