Annai Infra Developers has finally received approval from the market regulator the Security and Exchange Board of India to launch an initial public offer (IPO).

The company has got the “Observation” letter on July 12, 2019, according to the Sebi website. Do you know Sebi’s observations are essential for a company to float public issues like initial public offer (IPO), Follow-on-Public offer (FPO) and other rights issues?

Annai Infra had filed its DRHP (Draft Red Herring Prospectus) for the public offer on 30th March 2019. According to DRHP, this IPO comprises a sale of around 1 crore equity shares. The size of this IPO is around INR 200-225 crore, as per market sources.

The book running lead manager is Pantomath Capital Advisors and the registrar to the issues is LinkIntime. The shares of this company are proposed to be listed on NSE and BSE.

The company is strongly engaged in irrigation and water management segment.