Rahee Infratech Files IPO Draft Papers To Raise Rs 420 Crore
The equity shares of Rahee Infratech are proposed to be listed on the BSE and NSE.
Bridge constructed by Rahee Infratech.
(Source: Official Website)
Rahee Infratech Ltd. has filed its preliminary papers with the capital markets regulator SEBI to raise up to Rs 420 crore via an initial public offering.
The public offer will only include a fresh issue of shares worth Rs 420 crore and an offer for sale of up to 27.80 lakh shares, according to the draft red herring prospectus.
Pradeep Khaitan, Pawan Khaitan, Ravi Khaitan, Nandini Khaitan and Shashi Khaitan are the promoters of the company, offloading shares in the offer for sale.
IIFL Securities Ltd. and Equirus Capital Pvt. are the book-running lead managers for the issue and KFin Technologies will be the registrar of the issue.
The company will use Rs 280 crore for meeting the working capital requirements of the company and Rs 50 crore for capital expenditure requirements and the purchase of machinery, equipment, and vehicles. The remaining amount will be used for general corporate purposes. The equity shares of the company are proposed to be listed on the BSE and NSE.
Rahee Infratech is an is an integrated railway civil engineering, manufacturing and construction company that offers manufacturing and construction services. The company offers services like design, supply, construction and installation of tracks and turnkey bridge construction projects. It also includes the design, manufacture and supply of turnouts and track devices, rail fastening systems and sleepers.
The company also manufactures and supplies advanced rail fastening systems to the Indian Railways, which are used in metro rail and high-speed rails in India.
As of July 2024, the company has 16 bridge projects and 12 track projects under execution across 18 states in India. Its order book as of March 31, 2024, stood at Rs 2,296.27 crore.
