New Delhi, September 8 (HS): Shivalaya Construction Ltd has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The company intends to list its shares on both the BSE and NSE.
According to the documents submitted to SEBI, the proposed IPO, with a face value of ₹2 per share, will comprise a fresh issue worth ₹450 crore and an Offer for Sale (OFS) of up to 2.49 crore equity shares. Out of the net proceeds, the company plans to utilize ₹340 crore for debt repayment, while the remaining funds will be deployed towards general corporate purposes.
IIFL Capital, Axis Capital, and JM Financial are the book-running lead managers for the issue, while MUFG Intime India Pvt Ltd has been appointed as the registrar.
Headquartered in New Delhi, Shivalaya Construction Ltd is an integrated infrastructure engineering, procurement, and construction player. As of July 31, the company has executed 41 projects across 19 states and union territories in India. With over 25 years of experience, the firm specializes in the construction, development, and maintenance of roads and highways, including elevated corridors, flyovers, bridges, and railway overpasses.
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Hindusthan Samachar / Jun Sarkar
