Mumbai-based construction company Capacit’e Infraprojects Ltd on Monday filed its draft prospectus with the market regulator for an initial public offering (IPO) to raise up to Rs400 crore. The company will use the proceeds for working capital requirements, purchase of capital assets and general corporate purposes.
Capacit’e Infraprojects undertakes construction of residential, commercial and institutional buildings, primarily in the Mumbai metropolitan region, the National Capital Region and Bengaluru. The company had an order book of over Rs4,000 crore as of 31 January, comprising 51 ongoing projects. Last month, it received orders worth Rs1,500 crore from leading real estate developers such as the Oberoi, Wadhwa, Rustomjee and Kalpataru groups in Mumbai, Emaar in Gurgaon and Ozone in Bengaluru.
The company’s consolidated revenue grew from Rs214 crore in 2013-14 to Rs853 crore in 2015-16 and Rs847 crore for the nine-month period ended 31 December, 2016.
Axis Capital Ltd, IIFL Holdings Ltd and Vivro Financial Services Pvt. Ltd are the book running lead managers.
According to a quarterly report by EY, India emerged as one of the most active regional markets for IPOs with 26 such offerings in the first three months of 2017. Delhi-based education services provider CL Educate Ltd, Shankara Building Products and Avenue Supermarts Ltd, the owner of D-Mart supermarket chain, were some companies that raised money through IPOs in the first quarter of 2017.