13.10 PM: Annai Infra Developers Files IPO Papers

Tamil Nadu-based engineering, procurement and construction company Annai Infra Developers has filed draft red herring prospectus (DRHP) with the capital market regulator for its initial public offering of up to 1 crore equity shares.

The company may consider issuing up to 16 lakh equity shares on a private placement basis for cash consideration, prior to filing of the red herring prospectus with the Registrar of Companies.

The IPO proceeds will be utilised to finance the purchase of plant and equipment, funding the working capital requirement and general corporate purposes.

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