KNR Constructions IPO : KNR Constructions Limited files DRHP with SEBI

KNR Constructions Limited has recently filed its Red Herring Draft Prospectus DRHP with Securities and Exchange Board of India. KNR Constructions IPO plans to issue 7,874,570 equity shares of Rs 10 each at a premium to be decided later through the book building process.The net issue would constitute 27.50% of the post issue diluted capital of the company.

KNR IPO Issue offering is 7,874,570 Equity Shares of which Employee Reservation Portion is 140,000 Equity Shares so the Net Issue is 7,734,570 Equity Shares of which Qualified Institutional Buyers Portion is Upto 3,867,280 Equity Shares.5% of QIB Portion is 193,365 Equity Shares.Non-Institutional Portion is Minimum of 1,160,185 Equity Shares and the Retail Portion of the IPO is 2,707,105 Equity Shares.

From the funds raised from the KNR Ipo the companys intends to deploy the net proceeds for:
1. Further Equity investment in BOT projects,
2. Purchase of capital equipment, and
3. For meeting working capital requirement.

The Equity Shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange Limited (”BSE”) and the National Stock Exchange of India Limited (”NSE”).BSE shall be the Designated Stock Exchange for the listing of KNR Constructions Limited IPO.

Axis Bank Limited is the Book Running Lead Manager to the IPO and the Registrar for the KNR Constructions IPO is Intime Spectrum Registry Limited.

Read more information regarding the KNR Constructions Limited IPO in the Red Herring Prospectus.