IOT Infras & Energy Services IPO : Files DRHP with SEBI

by khalid on 25/09/2010 · 0 comments

Mumbai based IOT Infrastructure & Energy Services Limited is an oil storage company. The company is planning to enter capital markets with its maiden public issue of 72.75 million equity shares of face value Rs 10 each. The company has filed a Draft Red Herring Prospectus (DRHP) on 22nd Sep 2010 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The issue constitutes 25% of the fully diluted post-issue paid up capital of the company. The Capital Markets, Enam Securities, Link Intime (India) are helping the company in the fund raising process.

The proceeds of the issue would be deployed for funding equity contribution or contribution in the form of shareholder loan in the company`s subsidiary, IOT Utkal Energy Services to part finance the development of the facilities for handling and storage of crude oil and finished products for Indian Oil on a BOOT basis at Paradip, Orissa; to finance construction and development of the 220,000 kiloliter common user terminal at Raipur, Chattisgarh.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The sole Book running lead manager to the issue is Enam Securities.

Registrar of the Issue : Link Intime (India).

Stay tuned to BelltheBull Blog for more on IOT Infras & Energy Services IPO !

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