Shivalaya Construction Eyes IPO to Reduce Debt

Shivalaya Construction has filed a draft red herring prospectus with SEBI for an IPO aimed at reducing its debt. The IPO includes a fresh issue worth Rs 450 crore and an offer-for-sale by promoters. The company focuses on infrastructure projects and has extensive experience in roads and highways.

Shivalaya Construction, a prominent infrastructure firm based in Delhi, has filed preliminary documents with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) aimed at paring down its debt.

The IPO will feature a fresh issue of shares valued at Rs 450 crore alongside an offer-for-sale of 2.48 crore shares by its promoters, as per their draft red herring prospectus.

Established in 2007, Shivalaya Construction has completed numerous projects in road and highway construction, showcasing over 25 years of expertise in the sector.

(With inputs from agencies.)