Mumbai-based Savy Infra & Logistics is set to launch its Rs 70-crore initial share sale on Dalal Street next week. This would be the 10th IPO from the SME segment in the current month.
The public issue will open for subscription on July 21 and close on July 23, while the anchor book for institutional investors will be launched on July 18.
The company will finalise IPO share allotment by July 24 and the trading in equity shares will commence on the NSE Emerge, effective July 28.
The IPO consists of entirely fresh issue of 58.32 lakh shares by the company. The price band for the offer has been fixed at Rs 114-120 per share.
Savy Infra & Logistics is the engineering, procurement and construction (EPC) company, focussing on earthwork and foundation preparation for infrastructure projects (road construction, embankments, sub-grade preparation, granular sub-bases, and bituminous or concrete surfaces).
It provides services like hard rock and soil excavation, blasting, debris transportation, and managing the logistics of moving soil and sand from project sites to dumping grounds. It operates an asset light business model, offering specialisd services by renting trucks and drivers, and managing the execution of transportation.
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It has confirmed order book worth Rs 230.56 crore.
The company will spend Rs 49 crore out of IPO proceeds for working capital requirements, and the remainder funds for general corporate purposes.
The book running lead manager handling the Savy Infra IPO is Unistone Capital.
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