GNI Infrastructure Files Draft IPO Papers With SEBI; Funds To Support Working Capital

GNI Infrastructure has moved a step closer to a public market listing, submitting its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Tuesday.

The proposed initial public offering (IPO) comprises a fresh issue of 2.10 crore equity shares and an offer for sale (OFS) of 93.88 lakh shares by promoters and existing investors.

Proceeds from the fresh issue will go towards working capital needs and general corporate purposes.

About The Company

Set up in 2007, GNI Infrastructure brings over four decades of collective experience to road infrastructure projects across Maharashtra. Its core work spans the construction, widening, upgradation, repair and maintenance of roads and highways. Beyond roads, the company has extended its reach into solid waste management through biomining projects.

Its client base is largely government-facing, with public sector organisations and government bodies across infrastructure, transportation and urban development making up the bulk of its order pipeline.

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Issue Management

SMC Capitals and Marwadi Chandarana Intermediaries Brokers are the book-running lead managers for the issue. KFin Technologies has been appointed as the registrar.