Ravi Infrabuild Projects receives SEBI nod for Rs 11 billion IPO

Ravi Infrabuild Projects, an engineering, procurement and construction company, has received SEBI’s approval to raise Rs 11 billion through an IPO. The IPO comprises only a fresh issue of Rs 11 billion and zero OFS component. The price band and issue date for the IPO are yet to be decided. The proceeds from the issue will be utilised for debt repayment, subsidiary investments, equipment purchases and general corporate purposes.