Varindera Constructions has filed draft papers with capital markets regulator Sebi to mobilise Rs 1,200 crore through an initial share sale.
The proposed IPO (Initial Public Offering) is a mix of fresh issue of equity shares valued at Rs 900 crore and an Offer For Sale (OFS) of shares worth Rs 300 crore by promoters, draft papers filed on Monday showed.
Varinder Kumar Garg and Sushma Garg will offload shares worth Rs 201 crore and 99 crore, respectively under the OFS.
Proceeds from the fresh issue will be utilised for the purchase of equipment, to support the working capital requirements of the company, payment of debt and for general corporate purposes.
Varindera Constructions is an integrated Engineering, Procurement and Construction (EPC) company with experience in the construction of building projects, including residential units, and office complexes, as well as undertaking infrastructure projects such as metro depot and aircraft hangar.
In the last 10 fiscal years (ended Mar
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