Shivganga Drillers, a leading oilfield services provider, has filed preliminary papers with the capital markets regulator to raise Rs 400 crore through its initial public offering (IPO). This public offering is a completely fresh issue of shares, with no offer for sale (OFS) component.
The company plans to use the funds raised for purchase of plant and machinery, payment of debt, and general corporate purposes. Additionally, Shivganga Drillers may raise Rs 80 crore through a pre-IPO placement, which will adjust the fresh issue size accordingly.
Shivganga Drillers is an integrated oilfield services company that provides a range of services, including onshore drilling, offshore operations and maintenance (O&M), equipment rental, and project management services to upstream oil and gas operators in India. The company operates across multiple stages of the drilling value chain, with capabilities spanning well planning, drilling execution, rig management, performance-linked contracts, and air-hammer drilling for hard-rock formations.
To assist with the public offering, Aryaman Financial Services has been appointed as the book-running lead manager. With its strong expertise in oilfield services and commitment to execution efficiency, cost control, and measurable outcomes, Shivganga Drillers is well-positioned for growth in the oil and gas industry.
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