PNC Infratech’s INR488 crore IPO to hit market on 8 May 2015

PNC Infratech logoPNC Infratech’s up to INR488-crore initial public offer (IPO) will open on Friday, making the infrastructure firm seventh company to hit the capital markets this year.

The Agra-based firm’s issue will open on 8 May and will close on 12 May, PNC Infratech said in a statement.

The company, which specialises in construction of highways, bridges, flyovers and airport runways, is making a public issue of up to 12,921,708 equity shares of face value of INR10 each including a share premium per equity share.

The price band is fixed from INR355 to INR378 per equity share. The infrastructure-firm would raise around INR488 crore at the upper end of the price band and INR456 crore at the lower end.

The offer comprises a fresh issue to the public of up to 1.15 crore equity shares by the company and an offer for sale of up to 14,21,708 equity shares by the selling shareholder, Jacob Ballas India, which is divesting its 25% stake.

The company has projects in Rajasthan, Punjab, Haryana, Uttarakhand, Uttar Pradesh, Delhi, Bihar, West Bengal, Assam, Madhya Pradesh, Maharashtra, Karnataka and Tamil Nadu.

The book running lead managers to the offer are ICICI Securities and IDFC Securities.

In 2015 so far, six companies — UFO Moviez India, MEP Infrastructure Developers, VRL Logistics, Inox Wind, Adlabs Entertainment and Ortel Communications — have tapped the IPO route to raise funds.

PTI

PNC Infratech’s INR488 crore IPO to hit market on 8 May 2015
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Anurag Gupta

With a profound experience in the finance field, Anurag also has years of experience in writing about different domains including finance and technology. He used to write for different content portals along with his association with IPO Central as a frequent contributor. His financial analyst’s background supports his writing and help him to get aware about different news’ of finance world.

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