Breaking News

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

17-Mar2018

Patel Infra gets SEBI's nod to float IPO

Patel Infrastructure has received markets regulator Securities and Exchange Board of India's (SEBI) approval to raise funds through an initial public offering (IPO). The company's IPO will see sale of equity shares worth Rs 400 crore.

The company, which filed the draft red herring prospectus with the SEBI in January, got the regulator's approval on March 5. The objects of the offer are to part finance the Cholopuram-Thanjavur HAM Project, purchase construction equipment, fund incremental working capital requirements and repay & prepay debt. SBI Capital Markets and IIFL Holdings are the book-running lead managers to the issue.

Patel Infrastructure operates as an engineering, procurement, and construction (EPC) player in the road sector.


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

CG Power's JV inaugurates HV, EHV factory in Indonesia

CG Power and Industrial Solutions' (CG) joint venture (JV) PT CPSI has inaugurated Indonesia's first High Voltage (HV) and Extra High Voltage (EHV) factory at the Modern Cikande Industrial Estate, Banten......

MCX inks MoU with Indian Cotton Federation: Report

Multi Commodity Exchange of India (MCX) has reportedly signed memorandum of understanding (MoU) with Coimbatore-based Indian Cotton Federation (ICF). The agreement is to facilitate potential collaboration......

RIL's telecom arm tops Fortune's 'Change the World' list

Reliance Industries' (RIL) telecom arm -- Reliance Jio -- has ranked as the top company globally on Fortune's 'Change the World' list that ranked companies using the profit motive to tackle social problems......