Sadbhav Infrastructure Projects has filed draft papers with the market regulator SEBI for raising up to Rs 600 crore through an initial public offering.
Sadbhav Infrastructure Project has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) today in order to undertake an initial public offering of its equity shares, Sadbhav Engineering said in a filing to the BSE.
Sadbhav Infrastructure Projects is a subsidiary of Sadbhav Engineering.
“The issue consists of a fresh issue of equity shares of Rs 10 each aggregating up to Rs 6,000 million and an offer for sale of up to 16,178,811 equity shares by Xander Investment Holding XVII Ltd and up to 16,178,811 equity shares by Norwest Venture Partners VII-A—Mauritius,” the company said.
Shares of Sadbhav Engineering closed at Rs 266.60 apiece on the BSE, up 7.91 per cent from previous close.