Hyderabad based Rithvik Projects Limited is planning to come out with an IPO and has recently filed its DRHP prospectus with SEBI.Rithvik Projects Limited IPO would issue 52 lakh equity shares at Rs 10 each with a premium to be decided later through the book building process.Net issue of the Rithvik Projects IPO is 47 lakh equity shares to the public and 5 lakh equity shares are reserved for the employees.
The Net issue would constitute 27.65% post issue paid up capital of the company.
Rithvik Projects is an infrastructure development company providing integrated engineering, procurement and construction services for civil & structural construction and infrastructure sector projects.
This Issue is being made through a 100% Book Building Process wherein up to 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers, of which 5% shall be reserved for Mutual Funds. Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less
than 35% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders.
The objects of the Issue are to raise capital for financing the funds required for:
1) Acquiring Plant & Machinery
2) Augmenting Additional Long Term Working Capital Requirement
3) General Corporate Purposes
4) Meeting the Public Issue Expenses
The company profit for the year ended March 31, 2007  stood at Rs 9.96 crore.
Book Running Lead Manager to the Rithvik Projects Limited IPO is Saffron Capital Advisors Private Limited and the Registrar to the Rithvik Projects IPO is Aarthi Consultants Private Limited.
The Equity Shares issued through this IPO are proposed to be listed on Bombay Stock Exchange Limited (BSE) and on the National Stock Exchange of lndia Limited (NSE).For the purposes of this Issue, BSE shall be the Designated Stock Exchange.
Rithwik-Projects-Limited-IPO-Draft-Prospectus
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
1 comment so far ↓
Another real estate company, Rithvik Projects IPO or Rithvik IPO and to Hyderabad based should be careful guys
Leave a Comment