Mumbai, May 20 (UNI) Real estate developer Triveni Infrastructure Development Company Limited has filed its draft red herring prospectus with the SEBI to enter the capital market with an Initial Public Offering of 80 lakh equity shares.
The firm, which is involved in infrastructure development in the National Capital Region (NCR) of India and Tier-II and Tier-III cities in the adjoining states of Haryana and Uttar Pradesh, plans to raise fund for its proposed projects by offering equity shares of Rs 10 each for cash, at a premium to be decided through a 100 per cent book-building process, the firm said in a release here today.
Proceeds will partly finance land acquisition and approval costs for some of the residential and commercial projects. It will also finance the development and construction costs over the acquired lands for these projects.
The proposed projects include two residential group housing projects over 20.4 acres of land and four commercial projects, including three IT Parks and a commercial complex over 29.5 acres of land in Gurgaon, Haryana, the release added.
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