Chennai, July 17 : The Tamil Nadu-based Annai Infra Developers Limited, a major player in Water Management and Irrigation EPC--Engineering, Procurement and Construction segment, has received approval from the Securities and Exchange Board of India (SEBI) to float an Initial Public Offering (IPO).
The capital markets regulator issued its final observations on Annai Infra Developers Ltd’s IPO proposal on July 12, according to information on the SEBI website, the company said in a release. The company filed its draft red herring prospectus for the IPO with SEBI on March 30 this year.
''The total IPO size is about Rs 200-250 crore. The IPO will be an offer for sale by Mr Subramaniam Ashok Kumar and Ms Duraisamy Kalaiselvi who are the promoters of the Company'', it said. The shares of Annai Infra were proposed to be listed on BSE and National Stock Exchange. (UNI)