Assam-based Neccon Power & Infra Limited, a company engaged in the power transmission and distribution sector which provides engineering, procurement, and construction (EPC) services, has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator SEBI.
The IPO comprises an issue of equity shares of face value of Rs10 each, a public issue of up to 1.27cr equity shares of face value of Rs10 each ("equity shares") of Neccon Power & Infra Limited.
The price band, the minimum bid lot size, and rupee amount of the discount, if any, to the retail individual bidders, will be decided by the company in consultation with the Book Running Lead Managers (BRLMs).
The Net Proceeds from the issue will be utilized to meet the additional working capital requirement of the company and for general corporate purposes.
PL Capital Markets Private Limited is the BRLM and Link Intime India Private Limited is the registrar to the Issue.