Mumbai, March 15: IVRCL Infrastructures and Projects Ltd (IVRCL) will launch a public issue to raise Rs 126 crore from the capital market. The issue will have a green-shoe option aggregating Rs 144.9 crore. The price band for the issue has been fixed between Rs 385 and Rs 415 per share of Rs 10 each.
The net proceeds of the public issue, through the book-building process, would be deployed for investment in build-operate-transfer (BOT) or build-own-operate-transfer (BOOT) projects, repayment of debt and for purchase of capital equipment, IVRCL vice-chairman and managing director E. Sudhir Reddy told newspersons here today.
In the red herring prospectus that IVRCL has filed with the Sebi, the company has said Rs 40 crore will be used for investment in BOT/BOOT projects, close to Rs 30 crore will be spent for the purchase of capital equipment and Rs 49.7 crore will be utilised towards the repayment of debts.
The issue will open on March 18 and close on March 23.