Technocraft Ventures Sets Stage for IPO to Expand Wastewater Treatment Reach
Technocraft Ventures, a key player in wastewater treatment solutions, is planning an IPO to raise Rs 138 crore for working capital. The IPO includes fresh equity shares and shares from promoter Kartikey Constructions. With a robust order book, the company eyes expansion and listing on BSE and NSE.
- Country:
- India
Technocraft Ventures, renowned for its wastewater treatment solutions, has submitted a draft proposal to India's capital markets regulator Sebi for an initial public offering (IPO). This strategic move aims to raise funds by issuing fresh equity shares along with an offer for sale from promoter Kartikey Constructions.
The company intends to utilize the net proceeds of Rs 138 crore from the fresh issue to bolster its working capital. The remaining funds will be allocated for general corporate purposes, according to their draft red herring prospectus.
Incorporated in 1998, Technocraft Ventures specializes in public infrastructure, having successfully executed projects under significant government schemes such as the Atal Mission for Rejuvenation and Urban Transformation and the Namami Gange Programme. The company's robust project pipeline includes ventures funded by the Asian Development Bank.
(With inputs from agencies.)
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