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IPO Structure
Jaipur-based engineering, procurement, and construction (EPC) company Swastika Infra has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO comprises a fresh issue of equity shares totaling ₹200 crore and an offer-for-sale of 19.2 lakh shares by existing shareholders, including promoters. Additionally, the company may consider a pre-IPO placement of up to ₹40 crore, which would reduce the size of the fresh issue accordingly.
Company Overview
Swastika Infra specializes in power distribution infrastructure projects, offering comprehensive solutions on a turnkey basis. Over the past 14 years, the company has executed 8,519.50 circuit kilometers of distribution lines. As of February 2024, Swastika Infra's order book includes 12 ongoing EPC power projects with a total order value of ₹1,478.2 crore.
Utilization of IPO Proceeds
The company intends to allocate ₹145 crore from the fresh issue proceeds to meet incremental working capital requirements. The remaining funds will be used for general corporate purposes.
Source: https://www.moneycontrol.com/news/business/ipo/jaipur-based-epc-player-swastika-infra-files-for-ipo-with-a-fresh-issue-of-rs-200-crore-12981860.html
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