Business Daily from THE HINDU group of publications
Thursday, Jan 03, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Jan 03, 2008 ePaper | Mobile/PDA Version |
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Markets
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IPOs Web Extras - Real Estate & Construction Our Bureau Hyderabad, Jan. 2 The Hyderabad-based Ramky Infrastructure Ltd has filed its draft red herring prospectus with the Securities and Exchange Board of India to enter the capital market soon with an initial public offering (IPO). The IPO would consist of equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book-building process and aggregating to Rs 400 crore, according to a press release. Ramky Infrastructure proposes to pre-place equity shares to certain investors prior to filing of the Red Herring Prospectus with the RoC (pre-IPO placement). If the pre-IPO placement is completed, the number of equity shares issued pursuant to the pre-IPO placement, will be reduced from the issue, subject to a minimum issue size of 10 per cent of the post-issue share capital. The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange. The proceeds from the issue are intended to be invested in its subsidiaries such as Ramky Hyderabad Ring Road Ltd, Ramky Herbal and Medicinal Park (Chhattisgarh) Ltd, Ramky Food Park (Chhattisgarh) Ltd. They would also be utilised for purchasing of construction equipment and financing a portion of the working capital requirements.
Ramky Infrastructure is the flagship company of the Ramky Group, which has specialised in environmental consulting, real estate development and emerging technologies services. The value of its order book was Rs 4,159.30 crore as on September 30, 2007 against Rs 2,230.8 crore as on March 31, 2007. It added contracts worth Rs 466.41 crore to its order book from October 1 to November 30, 2007, the release said. The book running lead managers to the issue are Enam Securities Private Ltd, Citigroup Global Markets India Private Ltd and IL&FS Investsmart Securities Ltd. More Stories on : IPOs | Real Estate & Construction
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