Annai Infra Developers has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
The funds will be utilized towards finance the purchase of plant and equipment, funding the working capital requirement and general corporate purposes. Pantomath Capital Advisors is the sole book running lead manager to the issue.
Annai Infra Developers is mainly engaged in engineering, procurement and construction (EPC) activities of water management and irrigation projects. Business operations of the company involve equipment procurement, project management and construction and commissioning of the projects.
