Mumbai : 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 in fiscal  2018, a source revealed.

According to a source, the Mumbai-based company will file its draft red herring prospectus (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 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 Capacite.

The company received repeat order from Rustomjee and Ozone. Both the order was bagged by Capacite Infraprojects in November 2016.

2012-formed Capacite received a capital of USD 10 million as growth capital from Paragon Partners last year.

(To download our E-paper please click here. The publishers permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal