Essel Infra to file for Rs 1,500 crore IPO: Sources

After Cafe Coffee Day, it is Essel Infra that is looking to file an Initial Public Offer (IPO), which could potentially be the largest in the infrastructure space.Sources tell CNBC-TV18 that the company is planning to raise Rs 1,500 crore via IPO and is expected to file Draft Red Hearing Prospectus (DRHP) in the next quarter. As per the sources, the funds raised will be utilised for road and renewable projects. The company has appointed ICICI Securities as its lead banker for the IPO. Essel Infra’s order book currently stands at USD 4 billion with 16 projects largely situated in Madhya Pradesh. Of this, 10 are operational road projects. The company is focusing on the renewable energy sector and has plans to build a 12,000 MW project, which will be completed in over four years. The company is also a part of the committee building five smart cities in the country. Essel Infra told the channel that it is evaluating the possibility of an IPO.