Sabari Constructions Technologies filed its Draft Red Herring Prospectus for an IPO on the NSE Emerge platform. The company plans to issue 63 lakh fresh equity shares to raise funds. It will use ₹160 crore for working capital. Based in Coimbatore, the firm manages 19 projects as of March-end.
Sabari Constructions Technologies, an integrated engineering, procurement and construction (EPC) and infra turnkey contracting company, has filed its Draft Red Herring Prospectus with the NSE Emerge Platform for its Initial Public Offering.
The IPO will comprise a fresh issue of up to 63 lakh equity shares with no Offer for Sale component.
The company will use ₹160 crore from IPO proceeds for working capital and for general corporate purposes.
GYR Capital Advisors has been appointed as the book running lead manager while Purva Sharegistry (India) will be the Registrar.
Headquartered in Coimbatore, the company has experience of over two decades. Its customers include central and state government departments, metro rail corporations, public sector undertakings and private sector organisations.
As of March-end, the company's order book comprised 19 projects across government, private and own-developed projects.
The company also operates manufacturing units for concrete blocks and ready-mix concrete at Coimbatore and Chennai.