Aggcon Equipments Seeks to Raise Rs 332 Crore via IPO
Aggcon Equipments International Ltd, a leading infrastructure equipment rental company, is planning to raise Rs 332 crore through an IPO. The proceeds will be used for debt repayment, equipment purchase, and corporate purposes. The company has seen significant growth in revenue and profit in recent years.
- Country:
- India
Infrastructure equipment rental company Aggcon Equipments International Ltd filed draft papers with markets regulator Sebi on Thursday, seeking approval for a Rs 332 crore initial public offering (IPO).
The Haryana-based company aims to raise the funds through a fresh issuance of equity shares and an offer-for-sale of promoter shares totaling 94 lakh, as per the draft red herring prospectus (DRHP).
The IPO's fresh issue will allocate Rs 168 crore for debt repayment, Rs 84 crore for equipment purchases, with the remainder earmarked for general corporate purposes.
(With inputs from agencies.)
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