Capacite Infraprojects, a Mumbai-based construction company, has received the regulatory clearance from the Securities and Exchange Board of India (Sebi) for its Rs 400 crore worth initial public offerings (IPOs).
The draft proposal with market regulator was filed on April 17. The company received the final observation the Sebi website on June 9.
Backed by several Private Equity (PE) firms like New Quest Asia and Paragon Partners, Capacite Infraprojects is planning to use IPO money for fulfilling capital requirements, buying several capital assets and general corporate purposes, confirms the executive chairman Rohit Katyal.
The face value of each equity share is Rs 10. The issue will be on the book-building basis in which price band has to be set later.
For these IPO offerings, Axis Capital, IIFL Holdings, and Vivro Financial Services are the book running lead managers to the issue and Karvy Computershare is made the Registrar.
Source: ET Realty