Financial Daily from THE HINDU group of publications
Thursday, Nov 04, 2004
Financial Daily from THE HINDU group of publications Thursday, Nov 04, 2004 |
||
|
|
||
|
Corporate
-
IPOs Ramky Infrastructure planning IPO M. Ramesh
Chennai , Nov. 3 RAMKY Infrastructure Ltd proposes to come out with an initial public offering this year, but not before a few multilateral funding agencies pick up stake in the company. The company is in talks with ChrysCapital, IFC, and ADB for equity financing. The Rs 150-crore company is part of the Ramky group of Andhra Pradesh, which has interests in civil infrastructure and waste management. Ramky Infrastructure itself has three lines of operations - undertaking civil contracts, building infrastructure under public-private partnership model, and infrastructure consultancy. The company Chairman, Mr Ayodhya Rami Reddy, told Business Line recently that the company initially proposed to raise Rs 100 crore partly from the funding agencies "which are very keen", and the public issue. The public issue may happen towards the end of the financial year. According to Mr Reddy, the company needs to expand its equity base to be able to quote for large contracts. Further, it requires funds to execute the orders on hand, worth about Rs 800 crore. On the basis of this, the company has visions of becoming a Rs 1,000-crore company by 2007-08. Apart from equity, the company is also looking for debt funds from IFC, ADB and DEG of Germany, Mr Reddy said. The group is also building a `pharma city', an industrial estate exclusive for pharma companies.
More Stories on : IPOs | Infrastructure
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|