Pratibha Industries is looking to hive off pipe mill and sell its land bank, which will help bring down debt. The company also plans to raise funds to the tune of Rs 250 crore via QIP issue or preferential allotment of shares.
The funds raised would be used to pare down debt and bring down the debt equity ratio to 2 from 2.7. The part of the proceeds will also be used for existing operations.
Pratibha Industries is engaged in the business of integrated infrastructure solutions. As the company moves ahead, it has laid increased emphasis on devising its business strategy on aggressive top line growth, a de-risked business model and increased operational efficiencies.