RKCPL has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 1,250 crore through an initial public offering (IPO). The company aims to mobilise Rs 700 crore through a fresh issue of equity shares and Rs 550 crore through an offer-for-sale.
Proceeds from the fresh issue will be deployed to strengthen the company's operations and balance sheet. Of the Rs 700 crore fresh issue, about Rs 200 crore has been earmarked to meet working capital requirements, while Rs 130.02 crore will be used for the purchase of construction equipment. In addition, Rs 50 crore will be utilised for repayment of debt, and Rs 138 crore will be invested in subsidiaries -- Bathinda Ludhiana Highway, Poanta Saheb Highway d, and Ambala Ring Road Highway -- to partly or fully repay their borrowings. The balance funds will be used for general corporate purposes. Equirus Capital and Anand Rathi Advisors are the book-running lead manager to the issue. The company's shares will be listed on the NSE and BSE.
RKCPL is a civil construction and infrastructure development company with experience in executing specialised structural works across India, including elevated roads, flyovers, bridges, road overbridges, highways, expressways, drainage systems, and canal systems.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 3973.60 |
| Rail Vikas Nigam | 305.00 |
| NCC | 169.85 |
| KEC International | 598.10 |
| Kalpataru Projects | 1274.45 |
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