J Kumar Infraprojects Ltd raises Rs 137 crore through QIP

Civil engineering and construction company J Kumar Infraprojects Ltd (JKIL) officially announced here today that it has raised Rs 137 crore through Qualified Institutions Placement (QIP).
The company will issue 44,25,000 equity shares of face value of Rs 10 per equity share at a price of Rs 309.98, including a premium of Rs 299.98, JKIL said in a release here.
After the issue, promoter's holding will be reduced to 51.04 per cent against 59.16 per cent on June 30, JKIL said in a release here.
Funds raised would be deployed to finance the company's capital expenditure, meeting its working capital requirements and for general purposes.

Anand Rathi Advisors and Edelweiss Financial Services acted as global co-ordinators and book running lead managers for this QIP.
JKIL's primary focus is on transportation engineering, civil construction and irrigation works and it has a strong presence in Maharashtra, Rajasthan, Delhi and Gujarat.
The company has a proven track record of over 75 completed projects and currently has over 40 ongoing ones with an order book of Rs 3,140.91 crore as on March 31, 2014.