Indian IPO

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Thursday, January 10, 2008

J Kumar Infra fixes IPO price band at Rs 110-120/sh

J Kumar Infraprojects (JKIL), a civil engineering and infrastructure development company with a primary focus on development of roads, flyovers, bridges, railway over bridges, irrigation projects, commercial and residential buildings, railway buildings, sports complexes and airport runways, has fixed the price band between Rs 110 and Rs 120 for its initial public offering (IPO) of 65,00,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The issue comprises a net issue to the public of 63,00,000 equity shares and a reservation of up to 200,000 shares for eligible employees of the company. The issue will constitute 31.36% and the net issue will constitute 30.40% respectively of the fully diluted post issue paid-up capital of the company. The equity shares issued through this RHP are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

The proceeds from this issue are intended to be deployed for the purchase of capital equipments and for funding working capital requirements.

The company's core areas of expertise in the construction of infrastructure projects include: transportation engineering, civil construction, irrigation projects and piling work using hydraulic piling rigs. It also undertakes the design and construction of flyover projects to the client's specified requirements on turnkey basis.

The promoters and the experienced core team have got a past experience of over 2 decades in execution of different type of civil engineering projects. The company has a large fleet of its owned machineries and equipments. It has the ability to execute the project within stipulated time. Over the years, it has executed complex projects prior to the scheduled completion date and earned bonus for early completion.

The sole book running lead manager to the Issue is Anand Rathi Securities Limited.


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