Rahee Infratech Ltd to Raise Rs 420 Crore Through IPO, Files DRHP with SEBI
Rahee Infratech Ltd, a key player in railway civil engineering and construction, has filed for a Rs 420 crore IPO with SEBI. The IPO involves fresh share issuance and an Offer For Sale by promoters. The company plans to use proceeds for machinery, working capital, and general corporate needs.
- Country:
- India
Rahee Infratech Ltd, a prominent Kolkata-based firm specializing in railway civil engineering and construction, has submitted preliminary documents to SEBI to raise funds through an Initial Public Offering (IPO) amounting to Rs 420 crore via fresh issuance of shares.
The IPO will also include an Offer For Sale (OFS) component of 27.8 lakh equity shares by its promoters, as outlined in the Draft Red Herring Prospectus (DRHP) filed on Monday. Additionally, Rahee Infratech Ltd may consider an Rs 84 crore pre-IPO placement, potentially reducing the fresh issue size.
Funds raised will be channeled towards the purchase of machinery, equipment, and vehicles with Rs 50 crore allocated for this purpose. A substantial Rs 280 crore will support the company's working capital needs, while the remaining proceeds will cover general corporate expenses.
(With inputs from agencies.)
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