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Our Bureau

Mumbai , March 31

Engineering and construction company Unity Infraprojects Ltd has filed draft red herring prospectus with the Securities and Exchange Board of India to enter the capital market with an offer of 34.43 lakh equity shares at a face value of Rs 10 a share.

The 100-per cent book building issue comprises 6.75 lakh equity shares on offer for sale by Mr K.K. Avarsekar, CMD, Unity Infraprojects, and his family as also a fresh issue of 27.68 lakh equity shares by the company.

The funds from the issue will be used by the company to invest in BOT projects, for prepayment of debt and for working capital requirements.

Unity Infraprojects has aggregated Rs 29.4 crore through a pre-IPO placement of six lakh equity shares at a price of Rs 490 each. A preferential allotment, of 4.5 lakh equity shares to Aeneas Evolution Portfolio Ltd and 1.5 lakh equity shares to Prudential ICICI Mutual Fund, was done on March 24.

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