India: Capacit’e Infraprojects files for $62m IPO

Photo: Aniruddha Chowdhury/Mint

Mumbai-based construction company Capacit’e Infraprojects Ltd on Monday filed its draft prospectus with the market regulator for an initial public offering (IPO) to raise up to Rs400 crore ($61.9 million). The company will use the proceeds for working capital requirements, purchase of capital assets and general corporate purposes.

Capacit’e Infraprojects undertakes construction of residential, commercial and institutional buildings, primarily in the Mumbai metropolitan region, the National Capital Region and Bengaluru. The company had an order book of over Rs4,000 crore as of 31 January, comprising 51 ongoing projects. Last month, it received orders worth Rs1,500 crore from leading real estate developers such as the Oberoi, Wadhwa, Rustomjee and Kalpataru groups in Mumbai, Emaar in Gurgaon and Ozone in Bengaluru.

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