Going by the draft papers, proceeds from the issue would be utilised towards repayment or prepayment, of certain borrowings of the company, funding incremental working capital requirements, and for general corporate purposes.from Markets-Economic Times https://economictimes.indiatimes.com/markets/ipos/fpos/shri-bajrang-power-and-ispat-gets-sebis-go-ahead-to-float-rs-700-cr-ipo/articleshow/85777229.cms
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