The Hindu Business Line : Supreme Infrastructure public offering from September 21

Mr Bhawanishankar Sharma (right), Chairman, Supreme Infrastructure India Ltd, with Mr Vikram Sharma, Managing Director, at a press conference to announce the company’s IPO in Mumbai on Monday. —

Our Bureau

Mumbai, Sept. 17 Supreme Infrastructure India Ltd proposes to enter the capital market with an initial public offering of 34.75 lakh equity shares of face value Rs 10 each.

The issue, which is being made through a 100 per cent book building process, opens on September 21 and closes on September 26. The price band has been fixed at Rs 95-Rs 108.

Supreme Infrastructure India Ltd is into infrastructure development and primarily engaged in civil construction. It is currently occupied in construction of roads and highways.

The company plans to raise between Rs 33.01 crore and Rs 37.53 crore to part-finance its expansion plans and meet its long-term capital requirements.

Issue slots

Of the total issue, 50 per cent will be available for allocation on a proportionate basis to qualified institutional buyers (QIB’s), five per cent of the QIB portion will be available for allocation on a proportionate basis to mutual funds only.

Not less than 15 per cent of the issue will be available for allocation on a proportionate basis to non- institutional buyers and not less than 35 per cent to retail individual buyers.

“Currently, we have an order book of Rs 330 crore and have projects in and around Mumbai and Chitradurga in Karnataka,” said Mr Vikram Sharma, Managing Director of the company.

For the year ended March 31, 2007, the company’s total income was Rs 95.93 crore against Rs 54.79 crore in the previous year. Net profit stood at Rs 12.75 crore, compared to Rs 6.85 crore in FY06.

The equity shares are proposed to be listed on the BSE and NSE.

The book running lead manager to the issue is Karvy Investor Services Ltd.

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