 "HG Infra Engineering files draft papers with Sebi for Rs 500-cr IPO")
HG Infra Engineering has filed draft papers with capital markets regulator Sebi to raise Rs 500 crore through the initial public offer.
The IPO comprises a fresh issue of equity shares worth Rs 300 crore besides an offer of sale 60 lakh scrips by the existing shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi.
Funds raised through the fresh issue would be used for purchasing capital equipment; repayment of loan and for other general corporate purposes.
SBI Capital Markets and HDFC Bank will manage the company's initial public offer (IPO). The equity shares are proposed to be listed on the BSE and NSE.
HG Infra, a construction, development and management company, has executed or are executing projects across various states in India covering Rajasthan, Uttar Pradesh, Haryana, Uttarakhand, Maharashtra and Arunachal Pradesh.
The IPO comprises a fresh issue of equity shares worth Rs 300 crore besides an offer of sale 60 lakh scrips by the existing shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi.
Funds raised through the fresh issue would be used for purchasing capital equipment; repayment of loan and for other general corporate purposes.
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According to merchant banking sources, the public issue is expected to fetch Rs 500 crore.
SBI Capital Markets and HDFC Bank will manage the company's initial public offer (IPO). The equity shares are proposed to be listed on the BSE and NSE.
HG Infra, a construction, development and management company, has executed or are executing projects across various states in India covering Rajasthan, Uttar Pradesh, Haryana, Uttarakhand, Maharashtra and Arunachal Pradesh.