Construction company Ravi Infrabuild Projects Limited has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its upcoming Initial Public Offering (IPO). The company plans to raise around ₹1,100 crore through this public issue.
As per the DRHP, the IPO will be entirely a fresh issue of equity shares at a face value of ₹10 each with no offer-for-sale (OFS). The equity shares are to be listed on both the BSE and NSE. The price band and minimum bid lot for the IPO will be decided after consulting the book-running lead managers, which are Motilal Oswal Investment Advisors Limited and Axis Capital Limited.
MUFG Intime India Private Limited (formerly Link Intime India Private Limited) will be the Registrar to the issue.
The company will utilise the net proceeds from the issue for the following purposes:
Ravi Infrabuild Projects Limited is a civil construction company that develops roads, highways, bridges, flyovers, and tunnels primarily for public sector clients. With more than two decades of experience, the company has a presence in multiple Indian states, including Rajasthan, Madhya Pradesh, Maharashtra, and Uttar Pradesh.
The company operates in multiple modes, including EPC (Engineering, Procurement, and Construction) and hybrid annuity models. Its portfolio includes projects under Bharatmala Pariyojna, NHAI, IRCTC, MoRTH, and various state governments.
As of December 31, 2024, Ravi Infrabuild Projects Limited's total order book stood at ₹3,092 crore. As of March 31, 2024, Ravi Infrabuild reported a net cash inflow of ₹0.56 crore and total revenue of ₹23.34 crore, while in the financial year 2023, it posted an outflow of ₹0.67 crore and revenue of ₹41.01 crore.
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