Sadbhav Engineering to raise funds up to Rs 250 crore through QIP

Sadbhav Engineering has received an approval for raising funds by way of Qualified Institutions Placement (QIP) for an amount not exceeding up to Rs 250 crore. The board of directors at their meeting held on September 09, 2014 has approved for the same.

The above is however in accordance with the provisions of Chapter VIII of Securities and Exchange Board of India (issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable laws.

Sadbhav Engineering (SEL) is one of the largest BOT developers in the road sector in India with good project execution skills. SEL operates in the four distinct business areas in the infrastructure sector viz. BOT road projects, cash contract-based road projects, irrigation projects and mining.