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Lanco Infratech Ltd files DRHP with SEBI

Written by: Staff
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Hyderabad, Aug 8 (UNI) Lanco Infratech Limited, an infrastructure company involved in power generation, construction and property development, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to enter the capital market with its Initial Public Offering (IPO) of equity shares.

The company proposes to offer 44,472,381 equity shares of Rs 10 each for cash, at a premium to be decided through the 100 per cent book-build process to be conducted on the Mumbai and National Stock Exchanges, a company release said here today.

The issue would constitute 20 per cent of the fully diluted post issue equity capital.

The company proposes to reserve 5,00,000 equity shares for allotment to eligible employees of the company. The net offer to public would be of 43,972,381 equity shares.

In its DRHP, the company has indicated that it was considering the private placement of equity shares. If it proves to be successful, the net offer to public would stand reduced, the release added.

UNI BR JJ 1512

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