The Construction Company focused on residential, commercial and institutional buildings, Capacite Infraprojects, will go for IPO (initial public offering) soon. The company is hoping to raise Rs 500 crore through this route, a source revealed.
According to a source, the company will file its DRHP by end of the month. The company has been bagging lot of projects across cities like Mumbai, Delhi NCR and Bengaluru.
It is the same company which is given the responsibility to carry out the construction of the rehabilitation of the Bhendi Bazaar redevelopment project (Phase I). Post demonetisation, the company has been awarded orders worth Rs 1,500 crore from developers like Oberoi, Wadhwa, Rustomjee, Kalpataru, Emaar and Ozone. In a recent press note by the company, it stated that all of these orders have been received after the demonetisation of old currency was notified on November 8, 2016.
The total value of the order received from Oberoi Constructions Limited is approximately Rs 300 crore; from The Wadhwa Group is over Rs 500 crore; from Emaar Group is Rs 100 crore. In January, the Kalpataru Group awarded the construction of multiple high rise buildings valued at Rs 500 crore, the single largest order booked by Capacit’e.