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Rahee Infratech files IPO papers with SEBI

01 Oct 2024 Evaluate

Rahee Infratech 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), comprising Rs 420 crore through fresh issuance of shares. Apart from fresh issues, the offer will have an Offer For Sale (OFS) component of 27.8 lakh equity shares by its promoters. 

Proceeds from the fresh issue to the extent of Rs 50 crore will be utilised for the purchase of machinery, equipment and vehicles; Rs 280 crore for funding the working capital requirements of the company and the rest for general corporate purposes. IIFL Securities and Equirus Capital are the book-running lead managers to the issue.

Rahee Infratech is focused on providing manufacturing and construction services including the design, supply, construction and installation of tracks, turnkey bridge construction projects, including both substructure and superstructure and the design, manufacture and supply of turnouts and track devices, rail fastening systems and sleepers.


Peers
Company Name CMP
Larsen & Toubro 4050.00
Rail Vikas Nigam 296.30
NCC 160.45
KEC International 559.60
Kalpataru Projects 1240.45
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