Infrastructure consultant REPL raises nearly Rs 190 million via IPO

Infrastructure consultant REPL today said it has raised nearly Rs 190 million through its initial public offer (IPO) and the amount will be utilised to execute various contracts.

The company, which has bagged consultancy work for four smart city projects, issued 45,69,000 shares at Rs 41 each. The issue, which opened on June 29 and closed on July 5, was fully subscribed.

The share got listed today on the Emerge platform of the National Stock Exchange.

"We have raised Rs 187 million from our IPO. The amount will be utilised to execute various projects we have bagged under the smart city and Pradhan Mantri Awaas Yojana," REPL's CMD Pradeep Misra told reporters here.

Promoters have diluted 26 per cent stake in the company through the public issue.

Misra said the company has an order book of more than Rs 2.1 billion.

"IPO funds will help us further expand our footprint across new infrastructure domains and new geographies," he added.

Asked about turnover, Misra said the company posted a net profit of Rs 50 million over a revenue of Rs 400 million. He expected a growth of over 50 per cent in the company's turnover.

REPL is working on four smart city projects at Varanasi, Indore, Kanpur and Dehradun.