Apollo Micro Systems Ltd has filed draft papers with capital markets regulator Sebi to raise about Rs 156 crore through an initial share-sale offer.

The public issue comprises sale of the company's equity shares aggregating up to Rs 156 crore, according to the draft red herring prospectus (DRHP) filed with Sebi. Proceeds of the issue would be used to meet additional working capital and for other general corporate purposes. SBI Life IPO: All You Need To Know About This Biggest IPO

The equity shares are proposed to be listed on BSE and NSE. Further, Aryaman Financial Services is the sole book running lead manager to the issue. The Hyderabad-based company is in the business of designing, development, and manufacturing of electronics and electro-mechanical systems including software. 6 Biggest Mistakes Stock Market Investors Makes

As per the draft papers, the company design, develop and specialize in the production of ruggedized custom-built hardware and software solutions for the aerospace, defence, space, railways, automotive and home land security sectors.

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