New Delhi: SKIL Infrastructure on Tuesday filed a draft with regulators to raise up to Rs1,125 crore ($251.8 million) in an initial public offering (IPO), a draft document showed.
The company, which controls ship-builder Pipavav Shipyard and has a 21% stake in Everon Education, is also considering raising up to Rs225 crore in a pre-IPO placement with certain investors, it said in a draft prospectus.
Edelweiss, JM Financial, Nomura, SBI Capital Markets and ICICI Securities are the lead bankers to the issue, the document showed.
Proceeds from the IPO will be used to retire its Rs800 crore high-cost debt and to invest or acquire business ventures, the company said.
As of 31 March, SKIL Infra had total debt of Rs1,351 crore, excluding vehicle loans.
SKIL is primarily an infrastructure development company, with interests in shipyard, special economic zones, free zones, logistics, port, education and defence sectors.
The company will set aside Rs150 crore to acquire companies in the education, infrastructure and defence industries, and is currently exploring potential targets, according to the document.