Latest News | Ravi Infrabuild Projects Files Draft Papers with Sebi to Raise Rs 1,100 Cr Through IPO
Get latest articles and stories on Latest News at LatestLY. Construction company Ravi Infrabuild Projects Ltd has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 1,100 crore through an initial public offering (IPO).
New Delhi, May 9 (PTI) Construction company Ravi Infrabuild Projects Ltd has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 1,100 crore through an initial public offering (IPO).
The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Thursday.
Proceeds of the issue will be utilised for the purchase of new equipment, investment in the subsidiaries for payment of debt, and for general corporate purposes.
Ravi Infrabuild Project is a civil construction company engaged in the development of roads, highways, bridges, flyovers, and tunnels primarily for public sector clients. With more than two decades of experience, the company has presence across multiple Indian states, including Rajasthan, Madhya Pradesh, Maharashtra, and Uttar Pradesh.
The company operates across multiple modes including EPC (Engineering, Procurement, and Construction) and hybrid annuity models, with a portfolio that includes projects under Bharatmala Pariyojna, NHAI, IRCTC, MoRTH, and various state governments.
The company's total order book stood at Rs 3,092 crore as on December 31, 2024.
Motilal Oswal Investment Advisors Ltd and Axis Capital Ltd are the book running lead managers to the issue.
The equity shares are proposed to be listed on the BSE and NSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)