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Capacit’e Infraprojects IPO to open on 13 September

LiveMint logoLiveMint 06-09-2017 PTI

Mumbai: Engineering firm Capacit’e Infraprojects’ Rs400 crore initial public offer (IPO) will be launched on 13 September.

The issue, with a price band of Rs245-Rs250 per equity share, will close on 15 September.

“We plan to utilise the proceeds of the issue for funding working capital requirements, purchasing of capital assets and general corporate purposes,” company’s director Rohit Katyal told reporters in Mumbai on Wednesday.

The company, which is focused on construction of residential, commercial and institutional buildings, had reported a turnover of Rs1,157 crore in financial year 2017.

“We will continue to focus on the housing sector, especially on the back of growing demand in the segment. Initiatives like focus on affordable housing, RERA, easing FDI norms and interest rates coming down has driven the housing sector,” he said.

The company’s order book as on 31 May 2017 stands at Rs4,600 crore with projects across metros like the Mumbai Metropolitan Region, the NCR, Patna, Bengaluru, Chennai, Hyderabad, Kochi and Vijaywada.

“Developing mass housing and educational and healthcare institutions and projects awarded by the public sector would be our key focus areas of growth. We will continue to expand in the metros where we are currently operating,” Katyal added.

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