Kaushalya Infra to list on Friday

MUMBAI: Shares of Kaushalya Infrastructure Development Corporation list on the stock exchanges on Friday. The issue price has been fixed at Rs 60.

The company had entered the capital market with an initial public offering of 85 lakh equity shares of Rs 10 each through the 100 per cent book building process. The IPO was subscribed 7.20 times.

The company plans to use Rs 17.50 crore for land acquisition, land development rights and real estate development. It seeks to invest Rs 12 crore in various projects and joint ventures. It plans to keep Rs 5 crore for the buying construction and infrastructure equipments for execution of projects.

Kaushalya Infrastructure aims to operate into diversified sectors such as townships, offices, houses and other buildings, urban infrastructure, highways, roads, power systems, irrigation, dams and agriculture systems, etc.