GR Infraprojects has filed draft paper with Sebi to raise approx Rs.1,800 crore via an initial public offering (IPO).

As per the draft papers filed with Sebi, the IPO comprises fresh issue of shares worth up to Rs.500 crore, besides an offer for sale of up to 11,225,343 equity shares by the existing shareholders, including promoters.

The proceeds from the IPO will be used for investment in certain subsidiaries of the company, repayment of loans, purchase of capital equipment for EPC business and for other general corporate purposes. Furthermore, HDFC Bank, IDFC Bank, Motilal Oswal Company Limited Investment Advisor and Yes Securities (India) Ltd will manage the company’s IPO.

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