Associated Power Structures has secured Securities and Exchange Board of India’s (SEBI's) approval to raise funds through initial public offering (IPO). The proposed IPO is a combination of fresh issue of equity shares worth Rs 400 crore and an OFS of about 71.43 lakh equity shares by the promoters.
Proceeds from fresh issue to the tune of Rs 320 crore will be earmarked for payment of debt, and the rest for general corporate purposes. IIFL Capital Services and Indorient Financial Services are the book-running lead managers to the public issue.
Incorporated in 1996, Associated Power Structures is an integrated manufacturing and EPC (engineering, procurement, and construction) player engaged in the design and production of lattice structures catering to the power transmission and distribution, wind energy, and telecommunication sectors.
| Company Name | CMP |
|---|---|
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