Breaking News

You are here » Indian-Commodity  :  IPO  :  HG Infra gets SEBI's nod to float IPO

19-Dec2017

HG Infra gets SEBI's nod to float IPO

Jodhpur-based HG Infra Engineering has received markets regulator Securities and Exchange Board of India's (SEBI) approval to raise funds through an initial public offering (IPO). The public offer will comprise fresh issue of equity shares worth Rs 300 crore besides an offer of sale 60 lakh scrips by the existing shareholders. The company's shares are proposed to be listed on the BSE and NSE.

The company, which filed the draft red herring prospectus with the SEBI in September, got the regulator's approval on December 13. The net proceeds from the issue will be utilised for purchasing capital equipment, repayment of loan and for other general corporate purposes. SBI Capital Markets and HDFC Bank are the merchant bankers involved in the issue.

HG Infra Engineering is engaged in infrastructure construction, development and management and has experience in building highways, bridges and flyovers. It mainly provides engineering, procurement and construction services on a fixed-sum turnkey basis, besides undertaking civil construction and related infrastructure projects on an item-rate and lump-sum basis. 


Related News

View all news

Shyam Metalics files DRHP with SEBI for IPO

Shyam Metalics and Energy has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 909 crore through an initial public offer (IPO).......

Sembcorp Energy gets SEBI's nod to float IPO

Sembcorp Energy India has received markets regulator Securities and Exchange Board of India's (SEBI) approval to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of shares......

Montecarlo gets SEBI's approval for IPO

Montecarlo has received markets regulator Securities and Exchange Board of India's (SEBI) approval to raise funds through an initial public offering (IPO). The IPO comprises fresh issuance of shares worth......

Top News

View all news

Onward Network Technologies increases stake in Onward Technologies

Onward Technologies' promoter Onward Network Technologies has purchased 32,000 equity shares of the company through open market purchase for an amount of Rs 22,84,730. The transaction was executed during......

TCS features as leader for Life Sciences R&D Strategic Consulting Services

Tata Consultancy Services (TCS) has been named a leader for the second consecutive time, in the IDC MarketScape for Worldwide Life Science R&D Strategic Consulting Services. The company has extensive......

Vakrangee enters into distribution agreement with Aditya Birla Housing Finance

Vakrangee has entered into a distribution agreement with Aditya Birla Housing Finance, which shall offer distribution of Home Loan and other related products through Nextgen Vakrangee Kendras. This tie-up......