1) Company overview
The company is a multi-faceted infrastructure development and construction of residential, commercial spaces, apartments, townships, multi-storied complexes, gated communities, landscapes, and other related works
2) Industry overview
The government’s focus on building infrastructure of the future has been evident given the slew of initiatives launched recently. The $1.3 trillion national master plan for infrastructure, Gati Shakti, has been a forerunner to bring about systemic and effective reforms in the sector, and has already shown a significant headway.
3) Issue size
The IPO is entirely a fresh equity issue of up to 34.8 lakh equity shares aggregating to Rs 62.64 crore.
4) Price band
The company is offering its shares at Rs 180 apiece, and investors can bid for 800 shares in 1 lot.
5) Financial performance
For the period ended September 2023, the company clocked revenues of Rs 94.36 crore and net profit of Rs 6.92 crore.
6) Objects of the offer
The net proceeds from the public offer will be used for construction of ongoing projects, new multiplex, working capital requirements and general corporate purposes.
7) Lead managers and Registrar
First Overseas Capital is acting as the lead manager to the issue and Kfin Technologies is the registrar.
8) Issue structure
About 50% of the offer is reserved for retail investors, and the rest 50% for other investors
9) Important dates
The IPO opens on December 21 and will close on December 27. The final allotment will likely be made on December 28. The company’s shares will likely get listed on January 1.
10) Listing of shares
The company’s shares will get listed on the NSE SME platform.
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