Kapston plans to raise Rs 21.19 crore via IPO

Hyderabad-based Integrated Facilities Management company Kapston Facilities Management today said it aims to raise Rs 21.19 crore through an Initial Public Offer (IPO) through NSE Small Medium Enterprise (SME) platform.

With a primary aim to get listed on the NSE Emerge and to raise requisite funds to meet business/expansion programmes and to meet growing operational needs, Kapston is planning to come out soon with an IPO to raise Rs 21.19 crore through NSE Small Medium Enterprise (SME) platform, top company officials said.

The IPO comprises an offering up to 23,04,000 equity shares of face value of Rs 10 each of the company, which are proposed to be offered at Rs 92 per share by diluting to the extent of 26.5 per cent equity share capital through a mix of Offer for Sale and issue of new shares.

The company is expecting to clock gross revenues and net profit for the financial year endedMarch 31, 2018 of Rs 117 crore and Rs six crore approximately, Kapston Facilities Management Managing Director K Srikanth told reporters here.

Pre-issue paid-up capital is Rs 7.54 crore and Post IPO paid-up capital would be Rs 8.64 crore, he added.

The company presently has more than 6,500 employees and 400-plus clients and operates in southern states.

The issue opens next week and a date will be announced subsequently.

The company CFO Brendon Pereira was also present.