Capacit'e Infraprojects has received capital markets regulator Sebi's approval to raise Rs 400 crore through an initial public offer (IPO).
The company had filed draft papers with Sebi in April and in June obtained its 'observations', necessary for launching an IPO, Capacit'e said in a statement.
Funds raised through the issue will be utilised for working capital requirements, purchase of capital assets and for general corporate purposes.
The equity shares will have a face value of Rs 10 each. The issue will be on book-building basis and the price band will be decided later.
Axis Capital, IIFL Holdings and Vivro Financial Services are the book running lead managers to the issue. The equity shares are proposed to be listed on BSE and National Stock Exchange.
Mumbai-based Capacit'e Infraprojects is a fast growing construction company focused on residential, commercial and institutional buildings. It had an order book of over Rs 4,000 crore as on January 31, 2017 comprising 51 ongoing projects.
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