Polite Powertech files IPO papers
Integrated power infrastructure EPC company Polite Powertech has filed its draft red herring prospectus (DRHP) with market regulator Sebi to raise funds through an initial public offering (IPO).
The IPO comprises a fresh issue of 1o million equity shares and an offer for sale of 2.5 million equity shares.
Proceeds from the issue will be utilised for funding working capital requirements of the company and general corporate purposes. Polite Powertech is an integrated power infrastructure engineering, procurement, and construction (EPC) company, engaged in the design, supply, installation, testing, and commissioning of power transmission, distribution, and renewable energy projects.
CMPDIL’s IPO booked 7% on Day 1
The initial public offering (IPO) of Central Mine Planning and Design Institute, an arm of state-owned Coal India, got subscribed 7 per cent on the first day of share sale on Friday.
The IPO received bids for 52,44,320 shares, as against 7,97,89,500 shares on offer, according to NSE data. The category for retail individual investors (RIIs) received 10 per cent subscription, while the quota meant for non-institutional investors got subscribed 5 per cent.Central Mine Planning and Design Institute on Wednesday said it has mobilised ₹470 crore from anchor investors. [PTI]
