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Ramky Infrastructure IPO to raise 
530 crore
By siliconindia
|
Friday, 17 September 2010, 21:56 IST |
1 Comments
Mumbai: Ramky Infrastructure, an infrastructure and waste management solutions provider, is going to raise 
530 crore through an Initial Public Offer (IPO). The issue, which is set to open on September 21, includes fresh issue of 350 crore worth of equity shares and an offer for sale of 180 crore worth of shares by Alla Ayodhya Rami Reddy, Tara India Fund III Trust, and Tara India Holdings.
Proceeds from sale of fresh issue will be used for investment in capital equipments, working capital requirements and repayment of loans. The company intends to use 80.4 crore from the net proceeds for the purchase of capital equipment. The company's working capital requirement is estimated at 700 crore and repayment of loans at 50 crore.
The issue will close on September 23, 2010. The price band has been fixed between 405 and 468 per equity share. Enam Securities Private Limited and Deutsche Equities (India) Private Limited are the book running lead managers to the issue. Karvy Computershare Private Limited is the registrar.
CRISIL has accorded IPO grade 3/5 to the issue indicating average fundamentals. Ramky Infra's revenues have registered a CAGR of 30 percent over the last 3 years (2006-07 to 2008-09), with operating margins at 9.9-10.7 percent. For the six months ended September 2009, the company's operating margins were at 9.9 percent and net profit at 278 million.
530 crore through an Initial Public Offer (IPO). The issue, which is set to open on September 21, includes fresh issue of 350 crore worth of equity shares and an offer for sale of 180 crore worth of shares by Alla Ayodhya Rami Reddy, Tara India Fund III Trust, and Tara India Holdings.
Proceeds from sale of fresh issue will be used for investment in capital equipments, working capital requirements and repayment of loans. The company intends to use 80.4 crore from the net proceeds for the purchase of capital equipment. The company's working capital requirement is estimated at 700 crore and repayment of loans at 50 crore.
The issue will close on September 23, 2010. The price band has been fixed between 405 and 468 per equity share. Enam Securities Private Limited and Deutsche Equities (India) Private Limited are the book running lead managers to the issue. Karvy Computershare Private Limited is the registrar.
CRISIL has accorded IPO grade 3/5 to the issue indicating average fundamentals. Ramky Infra's revenues have registered a CAGR of 30 percent over the last 3 years (2006-07 to 2008-09), with operating margins at 9.9-10.7 percent. For the six months ended September 2009, the company's operating margins were at 9.9 percent and net profit at 278 million.