PSP Projects all set to get listed, files DRHP
Construction company, PSP Projects is all gearing up to get listed on the national bourses. The multidisciplinary construction company has filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI seeking permission for its Initial Public Offering (IPO).
The public issue consists of upto 10,080,000 equity shares of face value of Rs 10 each (the “equity shares”) of PSP Projects Limited. The issue comprises of a fresh issue of upto 7,200,000 equity shares and offer for sale of upto 2,880,000 equity shares.
The company plans to use the net proceeds from the fresh issue towards funding working capital requirements, funding capital expenditure requirements of the company and for general corporate purposes.
Karvy Investor Services Limited and Motilal Oswal Investment Advisors Private Limited are the book running lead managers to the issue; and Karvy Computershare Private Limited is the registrar to the issue.
The company offers a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India.