Rahee Infratech IPO: Rs 420 Crore live issue

New Delhi, Oct 1 (PTI): Rahee Infratech Ltd, a leading civil engineering, manufacturing, and railway construction company, has submitted its preliminary documents to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 420 crore. The IPO will consist of a fresh issue of shares and an Offer for Sale (OFS).

According to the Draft Red Herring Prospectus (DRHP) filed on Monday, the OFS will include 27.8 lakh shares from the company’s promoters. The Kolkata-based firm may also raise Rs 84 crore through a pre-IPO round, which, if successful, will reduce the size of the public issue.

The funds from the fresh issue, amounting to Rs 50 crore, will be allocated for the purchase of machinery, equipment, and vehicles. An additional Rs 280 crore will be used to meet the company’s working capital needs, with the remaining funds dedicated to general corporate purposes.

Rahee Infratech specializes in offering comprehensive manufacturing and construction services, including design, supply, construction, and installation of railway infrastructure, turnkey bridge projects, and the manufacturing of railway track components such as turnouts, rail fastening systems, and sleepers.

IIFL Securities and Equirus Capital are acting as the book-running lead managers for the IPO, while KFin Technologies has been appointed as the registrar for the offer