Technocraft Ventures Files Draft Papers for ₹138 Crore IPO
Technocraft Ventures, a wastewater treatment solutions provider, has filed draft papers with SEBI for an IPO to raise ₹138 crore. The offering includes fresh issuance of 95.05 lakh equity shares and an offer for sale of 23.76 lakh shares by promoter Kartikey Constructions. Funds will be used for working capital and general corporate purposes. The company, incorporated in 1998, specializes in turnkey engineering contracts for public infrastructure, focusing on wastewater treatment and electrical transmission networks. It has ongoing projects worth ₹685.83 crore and reported revenue of ₹279.56 crore with a profit after tax of ₹28.20 crore. Shares will be listed on BSE and NSE, with Khambatta Securities as the sole book running lead manager.
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Technocraft Ventures, a wastewater treatment solutions provider, has taken a significant step towards going public by filing draft papers with the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO). The company aims to raise approximately ₹138 crore through this offering, which includes both fresh issuance of shares and an offer for sale by its promoter.
IPO Structure
The IPO comprises two components:
- Fresh issuance of up to 95.05 lakh equity shares
- An offer for sale of up to 23.76 lakh shares by promoter Kartikey Constructions
Use of Proceeds
The company plans to allocate the funds raised from the fresh issue for:
- Working capital requirements
- General corporate purposes
Company Overview
Technocraft Ventures, incorporated in 1998 and based in Gautam Budha Nagar, specializes in executing turnkey engineering, procurement, and construction contracts for public infrastructure. Their primary focus areas include:
- Wastewater treatment
- Electrical transmission networks
Current Projects and Financials
The company boasts a robust order book, with:
- Ongoing projects worth ₹685.83 crore
- Four joint venture projects valued at ₹383.86 crore
Technocraft Ventures reported:
| Financial Metric | Amount (in ₹ crore) |
|---|---|
| Revenue | 279.56 |
| Profit After Tax | 28.20 |
IPO Details
- Listing: The shares will be listed on both BSE and NSE
- Book Running Lead Manager: Khambatta Securities (sole)
- Registrar: Bigshare Services
This IPO marks a significant milestone for Technocraft Ventures as it seeks to capitalize on the growing demand for wastewater treatment and public infrastructure solutions in India. Investors and market watchers will be closely monitoring the progress of this offering in the coming weeks.
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