Power transmission firm Karamtara Engineering has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 1,750 crore through an initial public offering (IPO). The proposed IPO is a combination of a fresh issue of shares valued at Rs 1,350 crore and an offer for sale (OFS) of shares worth Rs 400 crore by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday. As a part of the OFS, promoters --Tanveer Singh and Rajiv Singh -- are offloading shares worth Rs 200 crore each. Overall, promoters hold 94.8 per cent stake in the company at present. Proceeds of the fresh issue to the tune of Rs 1,050 crore will be used towards payment of debt and a portion will be utilised for general corporate purposes. Karamtara Engineering is a backward integrated manufacturer of products for renewable energy and transmission lines sectors. It offers a diverse product portfolio which enables it to serve as a one-stop shop for solar structures ...