Jun 30, 2023
By: Katya Naidu
The IPO opens on June 30 and closes on July 4.
The price band for the shares has been fixed at ₹140-148.
The company intends to raise as much as ₹379 crore via the public issue.
he bids will be received in 100 equity shares and in multiples thereof.
The company is in the business of construction and development, hospitality and management services.
The company net profits grew by 32 percent to ₹40.5 crore in FY22, as compared to the year before. Its revenues however fell by 17.4 percent to ₹199 crore in the same period.
The issue comprises an offer for sale and a fresh issue of shares – which will be used to invest in subsidiaries, long-term working capital need, pursuing inorganic growth through and towards general corporate purposes
Failure to obtain new civil contracts, delay or cessation of annuity payments, weather risks for its hydro projects are some of the risks associated with the company.
The grey market premium, i.e. the premium at which the IPO shares trade in an unofficial market, is at ₹5, as per media reports.