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The company designs and executes construction projects in sectors such as water supply, railways, roads and irrigation. As of March 31, 2023, it derived 85.3% of the total revenue from water supply projects

As per the DRHP, the proceeds from the issue will be utilized to the extent of Rs 463.90 crore for repayment, in full or in part, of borrowings availed from banks by the company and material subsidiary and for general corporate purposes

About 50% of the offer is set aside for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors

The fundraise was conducted in two tranches, in consultation with the book running lead managers, allocating 59.75 lakh shares at a price of Rs 164 apiece

The IPO comprises fresh equity issue of Rs 162 crore and offer for sale (OFS) of 1.75 crore equity shares. The company has fixed a price band of Rs 102-108 per share and investors can bid for a minimum of 130 shares in one lot and in multiples thereafter.

In Sebis parlance, the T Day is the IPO closing date, which means post the effect of new rules, IPOs will have to list within 3 days of the issue closing date

The company exports Make-in-India metallic flexible flow solutions to over 85 countries. Exports contribute more than 80% to the total revenues. The IPO, with a face value of Rs 2 per equity share, comprises a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale of up to 17.5 million equity shares by the promoting shareholders.

Investors can bid for 76 shares in one lot and in multiples thereafter. About 75% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 10% for retail investors

India ranks 8th in the world in terms of the issue proceeds, with no cross-border deals recorded, EY India says. On the main board, 6 companies launched public offers in the June quarter, including fund raising by an infrastructure investment trust

The offer comprises fresh equity issue of up to Rs 600 crore and an offer for sale (OFS) of 1.42 crore units by selling shareholders