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Construction company T and T Infra Ltd has filed draft papers with the markets regulator SEBI to float an initial public offer (IPO). The initial share-sale offer comprises up to 75 lakh equity shares of the company, according to the draft red herring prospectus filed with the Securities and Exchange Board of India (SEBI) on Tuesday.
Besides, the firm might consider a pre-IPO placement of up to Rs 20 crore at its discretion. Funds raised through the issue will be used to purchase plant and equipment, fund additional working capital requirements, fund expenditure towards general corporate purposes, and meet public issue expenses.
“We believe that the listing of our equity shares will enhance our visibility and brand name and enable us to avail of future growth opportunities,” T and T Infra said.
Hem Securities is the sole book-running lead manager to the issue and the equity shares of the company are proposed to be listed on BSE and NSE.
T and T Infra is an infrastructure company in the business of roads, flyovers and bridge construction, based in Maharashtra. Earlier this month, Shri Bajrang Power and Ispat Ltd and Angel Broking approached SEBI with IPO papers.
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