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HG Infra Engineering files draft papers with Sebi for Rs 500-cr IPO

SBI Capital Markets and HDFC Bank will manage the company's initial public offer (IPO)

Press Trust of India  |  New Delhi 

Representative Image for IPO
Representative Image for IPO

Engineering has filed draft papers with capital regulator to raise Rs 500 crore through the

The comprises a fresh issue of worth Rs 300 crore besides an offer of sale 60 lakh scrips by the existing shareholders, according to the draft red herring prospectus (DRHP) filed with

Funds raised through the fresh issue would be used for purchasing capital equipment; repayment of loan and for other general corporate purposes.

According to merchant banking sources, the public issue is expected to fetch Rs 500 crore.

Capital and will manage the company's (IPO). The are proposed to be listed on the and

HG Infra, a construction, development and management company, has executed or are executing projects across various states in India covering Rajasthan, Uttar Pradesh, Haryana, Uttarakhand, Maharashtra and Arunachal Pradesh.

First Published: Thu, September 28 2017. 19:24 IST