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Sillverton Industries Limited Revises Offer for Sale to 23.5 Million Equity Shares Ahead of IPO

Promoters and promoter group members consent to reduced share sale from 32.2 million to 23.5 million equity shares aggregating up to ₹3,000 million

Sillverton Industries Limited files an addendum to its Draft Red Herring Prospectus reducing the Offer for Sale from 32.2 million to 23.5 million equity shares aggregating up to ₹3,000.00 million. Multiple promoters and promoter group members have consented to the revised share sale ahead of the initial public offering.

11 hours ago|CUMMINSIND+0.00%
Sillverton Industries LimitedPreferential Issue

Sillverton Industries Limited

Preferential Issue

Sillverton Industries Limited has updated its proposed initial public offering (IPO) by reducing the Offer for Sale from up to 32,200,000 equity shares to up to 23,500,000 equity shares with a fresh issue aggregating up to ₹3,000.00 million. This revision follows consent letters from multiple promoters and promoter group members submitted on November 5, 2026.

The company’s Draft Red Herring Prospectus (DRHP) dated June 27, 2025, which was filed with SEBI and stock exchanges, initially disclosed an Offer for Sale comprising up to 32.2 million equity shares at a face value of ₹5 each.

Following receipt of consent letters from individual promoters and promoter group selling shareholders, including Rajeev Jain, Monica Jain, Akshay Jain, and others, the total Offer for Sale has now been revised to 23.5 million equity shares.

The respective portions proposed for sale by each selling shareholder have been updated accordingly, and the weighted average cost of acquisition per equity share has been certified by the company’s statutory auditors.

The Board of Directors has recorded the updated consent letters through a resolution dated November 6, 2026, reflecting these changes in the DRHP and associated filing documentation.

Highlights

  • Offer for Sale reduced from 32,200,000 to 23,500,000 equity shares.
  • Fresh issue aggregating up to ₹3,000.00 million in the IPO.
  • Consent letters from promoters and promoter group members dated November 5, 2026.
  • Board resolution taken on November 6, 2026 to record revised offer details.
  • Weighted average cost of acquisition certified by Chartered Accountants.

Key Data Snapshot

Revised Offer for Sale equity shares23,500,000 equity shares of face value ₹5 each
Initial Offer for Sale (as per DRHP)32,200,000 equity shares of face value ₹5 each
Fresh Issue sizeUp to ₹3,000.00 million
Date of consent letters from promoters and promoter groupNovember 5, 2026
Board resolution date recording revised offerNovember 6, 2026

What happened

  • Sillverton Industries Limited filed an addendum to its Draft Red Herring Prospectus revising the Offer for Sale in its proposed IPO.
  • The Offer for Sale was reduced from 32,200,000 shares to 23,500,000 shares, all with face value of ₹5 each.
  • The fresh issue size remains at up to ₹3,000.00 million.
  • Promoters and promoter group members submitted consent letters on November 5, 2026, agreeing to participate in the revised Offer for Sale.
  • The Board of Directors approved and recorded these revisions on November 6, 2026.

Key details

  • Offer for Sale comprises shares from multiple selling shareholders including Rajeev Jain, Monica Jain, Akshay Jain and others.
  • Weighted average cost of acquisition per share has been certified by the statutory auditor, Agarwal Ajay & Associates.
  • Each selling shareholder’s revised number of equity shares to be offered for sale is detailed in the filing.
  • Fresh certificate of incorporation was issued to the company following name changes before IPO preparations.
  • The filing was made pursuant to SEBI regulations and rules issued by the Ministry of Corporate Affairs in India.

Regulatory and governance context

  • The filing was made under SEBI regulations in connection with the proposed initial public offering.
  • Complies with Companies (Management and Administration) Rules, 2014, and Ministry of Corporate Affairs circulars dated September 22, 2025.
  • Promoters’ consent letters form part of governance disclosures and ensure compliance with offer documentation requirements.
  • Weighted average cost certification by Chartered Accountants aligns with SEBI disclosure norms.

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