Mumbai July 23, 2014: J. Kumar Infraprojects Limited (“JKIL”), a leading civil engineering and construction company having over three decades of experience in transportation engineering has concluded its fund raising exercise through Qualified Institutions Placement (QIP) Process.
The Company raised INR 1.37 bn through the QIP route, which saw participation by some highly reputed investors in India and across the globe. The Company accordingly will issue 44,25,000 equity shares of face value of INR 10/- per equity share at a price of INR 309.98 including a premium of INR 299.98. Post issue the promoters holding will be 51.04% as against 59.16% on June 30, 2014.
The response to this QIP issue is a testimony to JKIL’s growth oriented financial performance and confidence of the investors in JKIL’s business model.
Speaking on the occasion, Mr. Jagdish Gupta, Chairman, J. Kumar Infraprojects Limited said, “The high level of interest shown by leading institutional investors across the globe,reflects their confidence in the Company’s consistent record of good performance.”
The funds raised will be effectively deployed to fund the Company’s capital expenditure, meeting their working capital requirements and for general corporate purposes.
Anand Rathi Advisors Limited and Edelweiss Financial Services Limited acted as Global Co-ordinators and Book Running Lead Managers for this QIP.
About J. Kumar Infraprojects Limited
J. Kumar Infraprojects Limited (“JKIL”) a leading civil engineering and construction company having over three decades of experience in transportation engineering. Its primary focus is on transportation engineering, civil construction and irrigation works. The company has a strong presence in Maharashtra, Delhi, Rajasthan, and Gujarat. The Company has a proven track record of over 75 completed projects, and currently has over 40 ongoing projects with an order book of INR 3,14,091 lacs as on March 31,2014.
For the years ended March 31, 2014 and March 31, 2013, our total income was Rs. 1,19,759.16 lacs and Rs. 1,00,953.46 lacs respectively. In the years ended March 31, 2014 and 2013, we earned a profit after tax of Rs. 8,405.02 lacs and Rs. 7,574.29 lacs respectively.