Business Daily from THE HINDU group of publications
Saturday, Dec 22, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Dec 22, 2007 ePaper | Mobile/PDA Version |
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Corporate
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Outlook Markets - IPOs Our Bureau Hyderabad, Dec. 21 KNR Constructions Ltd, an infrastructure project development company, will enter the capital market soon with an initial public offering of 78,74,570 equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book-building process. The issue comprises a net issue to public of 77,34,570 equity shares of Rs 10 each and a reservation of up to 1,40,000 equity shares of Rs 10 each for cash at a premium. The issue and the net issue will respectively constitute 28 per cent and 27.50 per cent of the fully diluted post-issue equity share capital of the company. The proceeds from the issue are intended to be deployed for further equity investment in BOT projects, purchase of capital equipment and for meeting working capital requirements. The company has filed its Draft Red Herring Prospectus with the Securities & Exchange Board of India. The book running lead manager to the issue is Axis Bank Ltd. Incorporated in 1995, KNR Constructions Ltd has as on June 30, 2007 an estimated unexecuted order book position of Rs 1,273 crore, which is approximately four times the operational income of fiscal 2006-07 on consolidated basis, the release said. More Stories on : Outlook | IPOs | Real Estate & Construction
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