Unity still to use entire IPO proceeds

MUMBAI: Unity Infroprojects Ltd is still to fully use proceeds from its initial public offering. The company had raised funds for capital equipment, BOT projects, pre-payment of debts and funding working capital.

The company invested Rs 7.37 crore in the BOT projects as on March 31 against Rs 30 crore raised, according to details on the NSE website.

Unity Infroprojects invested Rs 17.31 crore in capital equipment against Rs 45 crore raised through the IPO.

Against Rs 45 crore specifically for pre-payment/repayment of debt, the company has utilised Rs 36.50 crore.

It had raised Rs 20 crore for working capital, of which it has used Rs 14.89 crore for the purpose as on March 31.

The balance funds have been invested in various debt schemes of mutual funds and bank fixed deposits.

Unity Infraprojects had entered the capital markets in May 2006 with a 34.43 lakh share offering to raise over Rs 220 crore.

At 12:09 PM, the shares were trading at Rs 532, on the BSE, up Rs 15.60 or 3.02 per cent with volume of 45149 shares.