India’s leading exercise equipment manufacturer Jerai Fitness is planning to enter into capital market at the end of this financial year. The comply aims to raise around Rs250 crore through initial public offer (IPO) to expand its footprint across the country.
“We are planning to raise around Rs250 crore through IPO by March 2017. As our products are getting more popular day by day, the proceeds of IPO will be used to expand our reach all across the country,” said Jerai Fitness Managing Director Rajesh Rai at an event here. The company has already picked HDFC Bank as the merchant banker for the purpose, he added.
As part of their CSR programmes, Jerai Fitness in association with an Non-Government Organisation (NGO) ‘Udaan’ & Chetanalaya also appointed a differently-able athlete of international repute and a native of Punjab, Sham Singh Shera as its brand ambassador who will train disabled boys and girls who are want to be athletes.