NEW DELHI, March 7 (Reuters) - Construction company PNC
Infratech Ltd on Friday said it will raise 1.5 billion rupees
from an initial public offering by May.
The company would issue up to 5.8 million shares, it had said
in January in a filing to the stock market regulator.
PNC would spend nearly 400 million rupees to buy equipment,
prepay 121.56 million rupees of debt and invest 300 million
rupees in build-operate-transfer infrastructure projects, it had
said.
The firm focuses on airport infrastructure and on highways,
and has worked on airports in the north Indian cities of Lucknow
and Dehradun, and in the southern city of Madurai, it said in the
statement.
(Reporting by C. Jacob Kuncheria; Editing by Sunil Nair)
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Keywords: PNCINFRATECH IPO/