Ajay Poly files IPO papers with Sebi to mop up funds

Ajay Poly filed its draft red herring prospectus with Sebi to launch an IPO, aiming to raise funds through a mix of fresh issue of shares worth up to Rs 238 crore and an offer-for-sale of up to 93 lakh equity shares. The proceeds will be used for debt repayment, capital expenditure, and general corporate purposes.