• search

Patel Engg files DRHP with SEBI

Written by: Staff

Mumbai, Mar 17 (UNI) Civil-infrastructure construction major Patel Engineering Limited has filed its draft red herring prospectus (DRHP) with SEBI for its follow-on public offer at a price to be determined through the cent per cent book-building process.

The company proposes to raise Rs 425 crore through this offer.

The issue comprises a net issue to the public of Rs 403 crore and a reservation for existing retail shareholders of the company of Rs 21.25 crore.

A company release said that not more than 50 per cent of the net issue will be allocated to qualified institutional buyers and not less than 35 per cent of the net issue will be available for allocation to retail individual bidders.

The company has appointed Enam Financial Consultants Pvt Ltd and ICICI Securities Ltd as the book-running lead managers for the follow-on public offering.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more