RPP Infra Projects IPO : 1st benefitiary of retail limit hike of Rs 2 lakh

by khalid on 18/11/2010 · 0 comments

SEBI has increased investment limit in initial public offer (IPO) or follow-on public offer (FPO) for retail investors to Rs 2 lakh from existing Rs 1 lakh. RPP Infra Projects Limited which is entering into primary market with an Initial Public Offer (IPO) of 6,500,000 Equity Shares is the first public offer that will get benefited from this investment limit. The IPO is opening on 18th Nov 2010 and the shares will be available for subscription up to 22nd Nov 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs. 68 – Rs. 75 Per Equity Share. South based construction company RPP Infra Projects Limited is in the business of infrastructure development such as Highways, Roads and Bridges. Company is also involve in civil work like SEZ Development, Water Management projects, Irrigation and Power Projects.

The proceeds of this IPO will be used to fund margin requirement for working capital, capital expenditure, invest in SPVs for BOT projects, general corporate expenses and issue related expenses.

The Promoters of the Company are Mr. P Arul Sundaram and Ms. A. Nithya.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Issue Detail:-
Issue Open : 18th Nov 2010 – 22nd Nov 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 6,500,000 Equity Shares of Rs 10 each
Issue Size : Rs. 44.20 – 48.75 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 68 – Rs. 75 Per Equity Share
Minimum Bid Quantity : 80 Shares (Rs. 6000 with 1 Lot)
Maximum Bid Quantity : 2640 Shares (Rs. 198000 with 33 Lot)
Listing At : BSE, NSE

The sole book running lead manager to the issue is VC Corporate Advisors Pvt Limited.

Registrar of the Issue : Cameo Corporate Services Limited Chennai.

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