Kolkata-based Rahee Infratech files DRHP for IPO
Rahee Infratech Limited, an integrated railway civil engineering, manufacturing, and construction company in India, has filed its draft red herring prospectus (DRHP) with the market regulator SEBI to raise funds through an initial public offering (IPO).
The IPO with a face value of Rs 2 per equity share is a mix of fresh issues of up to Rs 420 crore and an offer for sale of up to 2.7 million equity shares.
The offer for sale consists of the sale of equity shares up to 1,059,843 equity shares by Pradeep Khaitan, up to 519,400 equity shares by Pawan Khaitan, up to 834,257 million equity shares by Ravi Khaitan, up to 52,500 equity shares by Nandini Khaitan and up to 314,857 equity shares by Shashi Khaitan.
The company, in consultation with the book-running lead managers, may consider a further issue of equity shares through a private placement, preferential offer, or any other method aggregating up to Rs 84 crores, as pre-IPO placement shall not exceed 20% of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.
The offer is being made through the book-building process, wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional bidders, and not less than 35% of the offer shall be available for allocation to retail individual bidders.
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