Simplex Projects to raise Rs 50 cr from IPO
Infrastructure and engineering company, Simplex Projects Limited plans to enter the capital market with an IPO to raise Rs 50 crore for which it has filed the Draft Red Herring Prospectus with SEBI, acoording to a company official.
By PTI |
KOLKATA: Infrastructure and engineering company, Simplex Projects Limited plans to enter the capital market with an IPO to raise Rs 50 crore for which it has filed the Draft Red Herring Prospectus with SEBI, acoording to a company official.
Simplex Projects Managing Director B K Mundhra told reporters here today that the IPO would help raise funds for acquiring technology from overseas countries in carrying out turnkey projects.
Meanwhile, the company had entered into an agreement with EWW Verenigde Bedrijven, a Dutch company, for transfer of technology relating to designs, construction, commissioning and installation of parking systems for India, South-East Asian countries, Sri Lanka and other companies.
The company has already privately placed 10 per cent of its equity with two investors.
The order book of the company as of now was in excess of Rs 400 crore.
Simplex Projects Managing Director B K Mundhra told reporters here today that the IPO would help raise funds for acquiring technology from overseas countries in carrying out turnkey projects.
Meanwhile, the company had entered into an agreement with EWW Verenigde Bedrijven, a Dutch company, for transfer of technology relating to designs, construction, commissioning and installation of parking systems for India, South-East Asian countries, Sri Lanka and other companies.
The company has already privately placed 10 per cent of its equity with two investors.
The order book of the company as of now was in excess of Rs 400 crore.
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