New Delhi, Sep 29 (PTI) Infrastructure construction company Dhariwal Buildtech Ltd has filed draft papers with markets regulator Sebi to mobilise Rs 950 crore through an Initial Public Offering (IPO).

The Haryana-based company’s maiden offering is completely a fresh issue of equity shares with no Offer For Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP) filed on Saturday.

Proceeds worth Rs 203 crore will be utilised for purchase of construction equipment; Rs 174.2 crore and Rs 300 crore will go towards debt payment of the company and its subsidiaries respectively and rest for general corporate purposes.

The company may consider a pre-IPO placement of Rs 190 crore. If such initiative is undertaken, the fresh issue size will be reduced accordingly.

Dhariwal Bui

See Full Page