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Casagrand Premier Builder has filed a draft red herring prospectus with SEBI to raise Rs 1,100 crore through an IPO. The funds will be used for debt repayment and general corporate purposes. The IPO includes fresh issues worth Rs 1,000 crore and an offer for sale by promoters worth Rs 100 crore.
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It could lead to other firms in the supply chain going under, a trade body says.
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Brokerage firms initiated coverage on stocks like Va Tech Wabag and Ideaforge Technology, targeting upsides of up to 50%.
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