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Sadbhav Infra Fixes IPO Price Band at Rs 100-103

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Mumbai: Engineering firm Sadbhav Infrastructure Project Ltd on Tuesday said it has a fixed price band of Rs 100-Rs 103 per equity share for its forthcoming initial public offer (IPO).

The IPO will open for subscription on August 31 and close on September 2.

The issue consists of fresh issue of equity shares for an amount aggregating up to Rs 425 crore and an offer for sale of up to 3,235,762 equity shares by Xander Investment Holding XVII Ltd and up to 3,235,762 equity shares by Norwest Venture Partners VII - A - Mauritius.

The company is involved in the development, operation and maintenance of national and state highways and roads in several states including Maharashtra, Gujarat, Rajasthan, Karnataka, Haryana, Madhya Pradesh and Telangana and border check posts in Maharashtra.

The equity shares are proposed to be listed on the BSE and the NSE.


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