Kalindee Rail plans to raise Rs 150 cr through QIB

MUMBAI: Kalindee Rail Nirman Engineers plans to raise Rs 150 crore through placement of securities with qualified institutional buyers. The company also plans to raise money by issuing 18 lakh convertible equity warrants to promoters at a price not less than Rs 402 per warrant.

Kalindee Rail will raise the investment limit of foreign institutional investors up to 74 per cent of the paid up capital. Kalindee Rail is a Delhi-based engineering and construction company specialising in executing rail projects. The company has executed projects such as laying of new rail tracks, gauge conversion, signalling, telecommunication and metro rail projects.