Ramky Infrastructure files for IPO

Hyderabad: Ramky Infrastructure, the Hyderabad-based diversified infrastructure and waste management solutions provider, is gearing up to hit the market with its maiden offer raising about Rs. 530 crore for its expansion-cum-diversification.

The company management has filed draft red herring prospectus with the SEBI and expects the clearances to come through shortly. "Once all the necessary clearances come through, we expect to come up with the book building process by June," Goutham Reddy, Director, Ramky Group, told Business Line.

The IPO is aimed at diluting part of the promoters' holdings and also part of some of the investors such as the IL&FS, which owns up to 5.5 percent of the company equity. Of the Rs. 530 crore, the primary issue will amount to Rs. 350 crore and the secondary share issue Rs. 180 crore.

The company plans to list the shares on BSE and NSE. It has chosen Enam Securities and Deutsche Equities as book running managers.