Tarini plans Rs 16.30-crore IPO

Shares will be listed on the BSE SME platform

Tarini International Ltd announced here today that it plans a public issue of 39.78 lakh equity shares of Rs 10 each, at a price of Rs 41 per share, aggregating to Rs 16.30 crore.

The shares would be listed on the BSE SME platform. The issue would open for subscription on June 9 and close on June 13.

The company provides financial and technical consultancy related to hydel power generation, transmission, distribution and infrastructure.

The company intends to use issue proceeds to finance long-term incremental working capital requirements and brand building, a company statement said here.

The company has an order book position of Rs 240 crore, which includes orders of Rs 160 crore from overseas markets, Tarini International Managing Director V Chandrashekhar said.

"We have ab order book, consisting of EPCC contract for hydro power projects in South Africa aggregating to the value of Rs 125 crore and we have been engaged to undertake another EPC contact of 15 MW co-gen power plant on turnkey basis with approximately contract value of Rs 90 crore," he said.