New Delhi, Dec. 14 -- Mumbai-based alcoholic beverages distribution company Aspri Spirits has submitted draft papers to market regulator Sebi to raise Rs.140 crore through an initial public offering.

The IPO comprises a fresh issue of equity shares with a face value of Rs.5 each, aggregating up to Rs.140 crore, alongside an offer for sale of 5,000,000 equity shares by promoters-including Jaikishan Sham Matai, Matai Jackie Sham HUF, Gautam Nandkishore Matai, Arunkumar Venkat Bangalore, Duru Matai, Kajal Matai, and Vrutika Matai-and other selling shareholders such as Parameshwari Narang, Emerald Electronics Private Limited, Pavan Narang, and Whiteline Impex Private Limited.

The funds raised from the fresh issue will be used to repay debt ...