Capacit'e Infraprojects' Rs 400-cr IPO to open on Sept 13

The company reported a turnover of Rs 1,157 crore in the financial year 2017

Engineering firm Capacit'e Infraprojects' Rs 400 crore initial public offer (IPO) will be launched on September 13.

The issue, with a price band of Rs 245-Rs 250 per equity share, will close on September 15.

"We plan to utilise the proceeds of the issue for funding working capital requirements, purchasing of capital assets and general corporate purposes," company's director Rohit Katyal told reporters in Mumbai on Wednesday.

The company, which is focused on construction of residential, commercial and institutional buildings, had reported a turnover of Rs 1,157 crore in financial year 2017.

"We will continue to focus on the housing sector, especially on the back of growing demand in the segment. Initiatives like focus on affordable housing, Rera, easing FDI norms and interest rates coming down has driven the housing sector," he said.

The company's order book as on May 31, 2017 stands at Rs 4,600 crore with projects across metros like the Mumbai Metropolitan Region, the NCR, Patna, Bengaluru, Chennai, Hyderabad, Kochi and Vijaywada.

"Developing mass housing and educational and healthcare institutions and projects awarded by the public sector would be our key focus areas of grwoth. We will continue to expand in the metros where we are currently operating," Katyal added.