J Infratech has filed preliminary papers with the market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue of shares worth Rs 600 crore. Apart from the fresh issue, the company's proposed IPO comprises an offer for sale (OFS) of 1 crore equity shares by promoters.
The proceeds from the IPO will primarily be utilised to meet working capital requirements, repay or pre-pay certain borrowings and for general corporate purposes. Systematix Corporate Services is the book-running lead manager to the issue. Shares of the company are proposed to be listed on the BSE and the NSE.
J Infratech is an integrated infrastructure engineering, procurement and construction (EPC) company focused on roads, highways and bridges, with experience in executing large-scale road development projects involving specialised structures across India.