Sadbhav Engineering’s subsidiary Sadbhav Infrastructure Project has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on May 26, 2015 in order to undertake an initial public offering of its equity shares.
The issue consists of a fresh issue of equity shares of Rs. 10 each aggregating up to Rs 4250 million and an offer for sale of up to 8.10 million Equity Shares by Xander Investment Holding XVII and up to 4,853,643 equity shares by Norwest Venture Partners VII-A-Mauritius.
Sadbhav Engineering (SEL) is one of the largest BOT developers in the road sector in India with good project execution skills. SEL operates in the four distinct business areas in the infrastructure sector viz. BOT road projects, cash contract-based road projects, irrigation projects and mining.
