J Kumar Infraprojects has raised Rs 137.16 crore through issue of qualified institutional placement (QIP). The company had placed 44.25 lakh equity shares at Rs 309.98 apiece. The issue garnered interest from investors such as Capital Research, Macquarie Bank, GMO, Birla Mutual Fund, Bajaj Allianz, Tata AIA Life Insurance, DSP Blackrock among others.
Moreover, the company intends to deploy the net proceeds to fund its capital expenditure and meet working capital requirements. Edelweiss acted as the Left Lead Global Co-ordinator and Book Running Lead Manager to the Issue.
J Kumar Infraprojects is engaged in the business of civil engineering construction contractors in Infrastructural projects mainly in roads, flyovers, bridges, commercial and residential buildings, sports complexes, irrigation projects, airport contracts. The company also undertakes the piling of foundation work using hydraulic piling rigs for major projects which are awarded to other contractors.
