Trimax files DRHP for IPO, may raise Rs 250-300cr

Chikita Kukreja
moneycontrol.com

Trimax IT Infrastructure & Services has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of 11,977,000 equity shares of face value of Rs 10 each.

Earlier, in an interview with moneycontrol, chairman and managing director Surya Prakash Madrecha had said the company had plans to raise close to Rs 250-300 crore this fiscal (FY12). "This will be used to expand its presence across India. A part of this Rs 250-300 crore will also be used to tap Rs 50,000 crore PSU, e-governance and SME IT-enabled service opportunities," he had added. (Read more on this HERE)

The price will be decided through the 100% book-building process. The issue comprises a fresh issue of 9,585,658 equity shares and an offer for sale of 2,391,342 equity shares by Banyantree Growth Capital LLC. The issue shall constitute 25.07% of the post-issue paid up capital of the company.

Not more than 50% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers (QIBs). The company may, in consultation with the book running lead managers, allocate up to 30% of the QIB portion to anchor investors at the anchor investor allocation price, on a discretionary basis, out of which at least one-third will be available for allocation to domestic mutual funds only.

The book running lead managers to the issue are Kotak Mahindra Capital Company, Religare Capital Markets and SBI Capital Markets.