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FourFront Limited Received In-Principle Approval From BSE
FourFront Limited gains BSE in-principle approval for its IPO; aims to fund new projects and strengthen its position in EV and automotive component markets.
Mumbai (Maharashtra) [India], August 12: FourFront Limited (FourFront, the Company), an automotive component manufacturer with design capabilities for electromechanical and power electronics products for the EV and industrial automotive sectors, has received approval for its Draft Red Herring Prospectus, marking a significant step toward its Initial Public Offering.
The company plans to issue 65,00,000 fresh equity shares with a face value of ₹ 10 each. As the company advances with its IPO plans, Part-financing the Proposed Project FF, Funding incremental working capital requirements, Investment in our wholly owned Subsidiary for financing the Proposed Project EV, funding its incremental working capital requirement and general corporate purposes. The capital raised will support the company’s strategic objectives, strengthen its competitive.
