Railway infra provider Laxyo files Rs 150 cr IPO papers

New Delhi: Railway infrastructure and EPC services provider Laxyo Ltd has filed preliminary papers with markets regulator Sebi to raise Rs 150 crore through an Initial Public Offering (IPO). The IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP) filed on Monday.

The Indore-headquartered company intends to utilise the proceeds to the tune of Rs 70 crore for debt payment, Rs 9.75 crore for the purchase of equipment and Rs 23 crore to support working capital requirements and the remaining funds will be allocated for general corporate purposes.

The company may consider a Pre-IPO placement of up to Rs 30 crore. Founded as an integrated Engineering, Procurement and Construction (EPC) player, Laxyo commenced operations in 2007 and currently operates across railway infrastructure, mining services and raise boring operations, dredging and reclamation.