KNR Constructions files IPO papers with SEBI
KNR Constructions has filed papers with Securities and Exchange Board of India for its initial public offering of 78,74,570 equity shares of Rs 10 each for cash at a price to be decided through 100 per cent book-building process.
By INDIATIMES NEWS NETWORK |
MUMBAI: KNR Constructions has filed papers with Securities and Exchange Board of India for its initial public offering of 78,74,570 equity shares of Rs 10 each for cash at a price to be decided through 100 per cent book-building process.
The company provides engineering, procurement and construction services for roads & highways, irrigation and urban water infrastructure management. It plans to deploy the IPO proceeds for equity investment in built/own/transfer projects and purchase of capital equipment.
Net issue to public comprises 77,34,570 equity shares of Rs 10 each constituting 27.50 per cent of the fully diluted post-issue
The equity shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.
CRISIL has assigned a CRISIL IPO Grade '3/5' to the issue.
As on June 30, 2007, KNR Constructions had 24 projects on hand across Uttar Pradesh, Madhya Pradesh, Assam , Andhra Pradesh, Karnataka, and Tamil Nadu. Its project execution strength primarily lies in road transportation engineering projects.
The estimated unexecuted order book position as on June 30, 2007 was Rs 12,72.9 crore, which is four times the operational income of 2006-07 (Apr-Mar) on consolidated basis.
The company's operating income (consolidated) increased to Rs 324.4 crore in 2006-2007 as compared to Rs 129.3 crore in 2005-06. Its restated PAT increased to Rs 20.2 crore in 2006-07 compared to Rs 4.67 crore in 2004-05.
The book running lead manager to the issue is Axis Bank.
The company provides engineering, procurement and construction services for roads & highways, irrigation and urban water infrastructure management. It plans to deploy the IPO proceeds for equity investment in built/own/transfer projects and purchase of capital equipment.
Net issue to public comprises 77,34,570 equity shares of Rs 10 each constituting 27.50 per cent of the fully diluted post-issue
The equity shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.
CRISIL has assigned a CRISIL IPO Grade '3/5' to the issue.
As on June 30, 2007, KNR Constructions had 24 projects on hand across Uttar Pradesh, Madhya Pradesh, Assam , Andhra Pradesh, Karnataka, and Tamil Nadu. Its project execution strength primarily lies in road transportation engineering projects.
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The estimated unexecuted order book position as on June 30, 2007 was Rs 12,72.9 crore, which is four times the operational income of 2006-07 (Apr-Mar) on consolidated basis.
The company's operating income (consolidated) increased to Rs 324.4 crore in 2006-2007 as compared to Rs 129.3 crore in 2005-06. Its restated PAT increased to Rs 20.2 crore in 2006-07 compared to Rs 4.67 crore in 2004-05.
The book running lead manager to the issue is Axis Bank.
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