Hyderabad based APR Constructions Limited has informed the share market(BSE/NSE) that they have planning to enter capital markets with its initial public offer (IPO) of —- shares of Rs 10 each aggregative upto Rs 104 crore. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for the same. The premium to be decided via 100% book building process. The IPO price band has not been decided yet. APR Constructions Limited Company is engaged into infrastructure business focusing on undertaking projects in irrigation, railway and industrial segment.
The proceeds of the IPO will be used by the company for the procurement of construction equipment (worth Rs 41.99 crore) and long-term working capital requirements (Rs 40.34 crore).
As on February 2011, it has an outstanding order book of Rs 1,416.2 crore, constitutes 85% of irrigation projects, 12.5% of railway and rest of industrial projects.
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The Book Running Lead Managers to the Issue are BOB Capital Markets Limited, Karvy Investor Services Limited and Saffron Capital Advisors Private Limited.
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