KNR Constructions Ltd. IPO has been issued by the company in order to fulfill various objectives such as to meet the company's requirement for working capital and to purchase equipments.
A short note on KNR Constructions Ltd:
KNR Constructions Ltd. was incorporated in 1995 and the company is engaged in the business of infrastructure project development. The company provides services of construction, engineering and procurement for various sectors like irrigation, highways & roads, and management of the infrastructure of urban water.
As on 30th June 2007, KNR Constructions Ltd. had around twenty four projects in the various states of India that included Assam, Tamil Nadu, Uttar Pradesh, Karnataka, Andhra Pradesh and Madhya Pradesh.
Major projects completed by KNR Constructions Ltd. are -
- The company has done the maintenance work in the state road of Uttar Pradesh between Azamgrah to Ghazipur
- The company has constructed the Hapur Bypass in the state of Uttar Pradesh
- The company has widened and strengthened the NH-5 carriageway in Andhra Pradesh
A glance at KNR Constructions Ltd. IPO:
The issue of KNR Constructions Ltd. IPO was opened on 24th January and closed on 29th January, 2008. The total number of shares issued by KNR Constructions Ltd for its KNR Constructions Ltd. IPO is 7,874,570 equity shares at the face value of about Rs. 10 each. The company plans to raise through KNR Constructions Ltd. IPO around Rs. 142 crores from the Indian capital market. KNR Constructions Ltd. IPO has been listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The lead manager of KNR Constructions Ltd. IPO is Axis Bank Limited. The registrar of KNR Constructions Ltd. IPO is Intime Spectrum Registry Limited.
Reasons for issuing KNR Constructions Ltd. IPO:
KNR Constructions Ltd has issued KNR Constructions Ltd. IPO in order to use the proceeds from the issue to buy capital equipments, meet the requirement for working capital and to make investment in BOT projects.
