Capacit’e Infraprojects gets Sebi go-ahead for Rs 400-crore IPO

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Published: June 14, 2017 3:35:28 AM

Mumbai-based construction company Capacit’e Infraprojects has received approval from the Securities and Exchange Board of India (Sebi) for their proposed initial public offering (IPO).

Capacit’e, Infraprojects, Sebi, IPO, construction company Capacit’e, Capacit’e mumbaiThe IPO proceeds will be utilised for funding working capital requirements, purchase of capital assets and for general corporate purposes. (Reuters)

Mumbai-based construction company Capacit’e Infraprojects has received approval from the Securities and Exchange Board of India (Sebi) for their proposed initial public offering (IPO). The company plans to raise Rs 400 crore through fresh issue. The equity shares will have a face value of Rs 10 each. The issue will be on the book-building basis and the price band to be decided later. The IPO proceeds will be utilised for funding working capital requirements, purchase of capital assets and for general corporate purposes. The capital markets regulator issued final observations on the IPO proposal. Capacit’e had filed its draft red herring prospectus for an IPO on April 17, 2017.

Axis Capital, IIFL Holdings, and Vivro Financial Services are the book running lead managers to the issue and Karvy Computer Share is the registrar. The company is focused on residential, commercial and institutional buildings. The growth in consolidated revenue from operations was Rs 214.2 crore for the fiscal 2014, Rs 853.2 crore for the fiscal 2016 and Rs 847.3 crore for the nine-month period ended December 2016.

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