Azad Engineering files DRHP for Rs 740 crore IPO

Hyderabad-based engineering company, Azad Engineering Ltd, has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for its Rs 740 crore initial public offering (IPO). The IPO consists of a fresh issue of up to Rs 240 crore and an offer for sale of equity shares worth Rs 500 crore.