Ramky Infrastructure to raise Rs 530 crore through IPO
Infrastructure and waste management solutions provider Ramky Infrastructure plans to raise Rs 530 crore through an Initial Public Offer (IPO).
By PTI |
MUMBAI: Infrastructure and waste management solutions provider Ramky Infrastructure plans to raise Rs 530 crore through an Initial Public Offer (IPO).
The company has fixed price band of Rs 405-468 per equity share.
Hyderabad-based, infrastructure firm plans to raise up to Rs 350 crore through fresh equity issue and the balance Rs 180 crore through an offer for sale.
The issue will open for subscriptions on September 21 and close on September 23.
"The proceeds from sale of fresh issue will be used for investment in capital equipments, working capital requirements and repayment of loans," Ramky Group's Director, M Goutham Reddy told reporters here.
The company intends to use Rs 80.4 crore from the net proceeds for the purchase of capital equipment. The company's working capital requirement is estimated at Rs 700 crore and repayment of loans at Rs 50 crore, Reddy said.
The company is engaged in construction and infrastructure development, operation and management. It has serviced a diverse range of construction and infrastructure projects in sectors as varied as water and waste water, transportation, irrigation, industrial parks (including SEZs), power transmission and distribution, residential, commercial and retail property.
The company has fixed price band of Rs 405-468 per equity share.
Hyderabad-based, infrastructure firm plans to raise up to Rs 350 crore through fresh equity issue and the balance Rs 180 crore through an offer for sale.
The issue will open for subscriptions on September 21 and close on September 23.
"The proceeds from sale of fresh issue will be used for investment in capital equipments, working capital requirements and repayment of loans," Ramky Group's Director, M Goutham Reddy told reporters here.
The company intends to use Rs 80.4 crore from the net proceeds for the purchase of capital equipment. The company's working capital requirement is estimated at Rs 700 crore and repayment of loans at Rs 50 crore, Reddy said.
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The company is engaged in construction and infrastructure development, operation and management. It has serviced a diverse range of construction and infrastructure projects in sectors as varied as water and waste water, transportation, irrigation, industrial parks (including SEZs), power transmission and distribution, residential, commercial and retail property.
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