GVR Infra files for IPO to raise Rs 400 cr: Reports
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08 Oct 2015
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GVR Infra Projects has said that it has filed draft papers with markets regulator Sebi to raise at least Rs 400 crore through an initial share-sale programme, media reported. As per reports, GVR Infra's initial public offering (IPO) consists of fresh issue of equity shares worth Rs 400 crore and an offer for sale, whereby IDFC Private Equity Fund will offload 43.22 lakh scrips, as per the draft papers. The proceeds of the fresh issue will be utilised towards working capital requirements, reduction of outstanding amount under short-term borrowings and for general corporate purposes. The shares of the company are proposed to be listed on both NSE and BSE. The bankers to the issue are Edelweiss Financial Services, Ambit Corporate Finance, SBI Capital Markets and IDFC Securities. GVR Infra Projects Limited operates as a construction and infrastructure development company in India. It operates through two segments, Construction and Contract Related Activities; and BOT Projects. It is involved in the design, engineering, procurement, construction, rehabilitation, upgradation, operation, and maintenance of roads. |
| Source: Dion Global Type: IPO Related |
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