Rahee Infratech Ltd, a company specializing in railway construction and engineering, has filed for an Initial Public Offering (IPO) with SEBI. The company aims to raise ₹420 crore by issuing new shares. In addition to the fresh shares, the IPO will include an Offer for Sale (OFS) of 27.8 lakh shares by the company’s promoters, according to its draft prospectus filed on Monday.
The Kolkata-based company may also look to raise an additional ₹84 crore in a pre-IPO round, which would reduce the size of the fresh issue.
Of the funds raised, ₹50 crore will be used to buy new machinery, equipment, and vehicles, ₹280 crore will go towards the company’s working capital needs, and the remaining funds will be used for general corporate purposes.
Rahee Infratech provides services like track design and installation, bridge construction, and manufacturing railway components like sleepers and rail fastening systems.
IIFL Securities and Equirus Capital are managing the IPO, with KFin Technologies handling the registration process.
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