Companies

Construction firm PSP Projects files for IPO

Our Bureau Ahmedabad | Updated on January 16, 2018 Published on December 29, 2016

The Ahmedabad-based construction company PSP Projects Limited (PSP), on Thursday, said it has filed Draft Red Herring Prospectus (DRHP) with the market regulator SEBI seeking permission for its initial public offering (IPO).

The public issue consists of up to 10,080,000 equity shares of face value of Rs 10 each. The issue comprises a fresh issue of up to 7,200,000 equity shares and offer for sale of up to 2,880,000 equity shares, the company said in a statement here.

The final price band will be decided in consultation with the Book Running Lead Managers (BRLMs). The net proceeds from the fresh issue will be utilized towards funding capital expenditure and working capital requirements, and for general corporate purposes.

Karvy Investor Services Ltd and Motilal Oswal Investment Advisors Private Ltd are the BRLMs to the issue and Karvy Computershare Private Ltd is the Registrar to the issue.

PSP Projects Ltd is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India. It provides services across the construction value chain, ranging from planning and design to construction and post-construction activities to private and public sector enterprises, focusing on projects in the Gujarat region.

Published on December 29, 2016
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