KNR Constructions IPO :KNR Constructions to enter capital market
KNR Constructions IPO
KNR Constructions, an infrastructure project development company providing engineering, procurement and construction services across various fast growing sectors; viz., roads & highways, irrigation and urban water infrastructure management, will enter the capital market soon with an initial public offering (IPO) of 7,874,570 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.
The issue comprises a net issue to public of 7,734,570 equity shares of Rs 10 each and a reservation of upto 140,000 equity shares of Rs 10 each for cash at a premium. The issue and the net issue will respectively constitute 28.00% and 27.50% of the fully diluted post-issue equity share capital of the company.
The proceeds from this issue are intended to be deployed for further equity investment in BOT projects, purchase of capital equipment and for meeting working capital requirements.
The book running lead manager to the Issue is Axis Bank Limited.
