Upcoming IPO, Aug. 8 -- Silver Consumer Electricals has filed its draft red herring prospectus (DRHP) with the stock market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth Rs.1,400 crore.

The offer is a mix of fresh issue, worth up to Rs.1,000 crore, and an offer for sale (OFS), aggregating up to Rs.400 crore. Vinit Dharamshibhai Bediya is the sole promoter selling shareholder in the OFS.

The company plans to use the funds raised for repayment/prepayment, in full or part, of all or certain outstanding borrowings availed by it or its subsidiary BAPL and for general corporate purposes.

In the Silver Consumer Electricals IPO, 50% of the offer is proposed to be reserved for qualified insti...