Ramky files prospectus for Rs400 cr IPO

Ramky files prospectus for Rs400 cr IPO

Hyderabad: Hyderabad headquartered integrated infrastructure development company Ramky Infrastructure Ltd announced that it has filed the draft red herring prospectus with the Securities and Exchange Board of India (Sebi) to enter the capital market soon with its initial public offer (IPO).

The company proposes to offer equity shares of Rs10 each through a 100% book-building process aggregating to Rs400 crore. It proposes to list t he equity shares on Bombay Stock Exchange and National Stock Exchange.

The company proposes to invest the IPO proceeds in the projects of its subsidiaries such as Ramky Hyderabad Ring Road Ltd, Ramky Herbal and Medicinal Park (Chhattisgarh) Ltd, Ramky Food Park (Chhattisgarh) Ltd and Ramky Gems and Jewellery Park (Chhattisgarh) Ltd.

A portion of proceeds would also be used for purchasing construction equipment and working capital requirements, the company said in a statement.