PSP Projects’ IPO to hit the markets on May 17

Mumbai: Ahmedabad-based construction firm PSP Projects’ initial public offer (IPO), which aims to raise Rs 211 crore, will hit the markets on May 17 with a price band of Rs 205-210 per equity share. The issue, which closes on May 19, includes a fresh issue of up to 72 lakh equity shares and an offer for sale of up to 28.8 equity shares. “We plan to utilise the funds raised from the proceeds to meet our working capital requirements and capital expenditure,” company’s Chief Financial Officer Hetal Patel told reporters here on Tuesday .