Shankara Building Products targets to raise $44m through QIP

Photo: Mint

Shankara Building Products Ltd, an organized retailer of home improvement and building material, has appointed an investment bank to raise up to ₹300 crore through a qualified institutional placement (QIP), said two people aware of the development.

Promoted by first-generation entrepreneur and IIM-Ahmedabad alumnus Srinivas Sukumar, this will be the second major fundraise for the company.

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