Ahluwalia Contracts files Draft red herring prospectus with SEBI

New Delhi, May 25 (UNI) Construction company Ahluwalia Contracts (India) Ltd, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a public issue of 31,25,000 equity shares of Rs 10 each for cash.

Of the total equity shares being offered, 29,68,750 equity shares are net offer to the public, while the balance 1,56,250 shares are reserved for eligible employees of the company.

The premium on the shares will be decided through book building process.

The issue would constitute 19.93 per cent of the fully diluted post issue paid up capital of the company, while the net offer to the public would constitute 18.94 per cent of the fully diluted post issue paid up capital of Ahluwalia Contracts.

At least 50 per cent of the net offer to the public shall be allocated on a proportionate basis to Qualified Institutional Buyers (QIBs); upto 15 per cent of the net offer to the public shall be allotted on a proportionate basis to non-institutional investors and upto 35 per cent of the net offer to the public shall be available for allocation on a proportionate basis to retail bidders.

The equity shares are proposed to be listed on the NSE and the BSE, besides the Delhi, Calcutta and Jaipur Stock Exchanges where the existing equity shares of the company are listed.

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