India Business News: HYDERABAD: Aarvee Engineering Consultants Limited has received the Securities and Exchange Board of India (Sebi)’s approval to proceed with its initia.

Hyderabad company Aarvee Engineering Consultants gets Sebi nod for IPO

Aarvee Engineering Consultants Receives Sebi Approval for Rs 202.5 Crore IPO

Aarvee Engineering Consultants Limited, a Hyderabad-based company, has obtained the Securities and Exchange Board of India (Sebi)’s approval to proceed with its initial public offering (IPO), which comprises a fresh issue of equity shares aggregating up to Rs 202.5 crore.

Key Highlights of the IPO

Issue Size: Up to Rs 202.5 crore
Offer for Sale: Up to 67.5 lakh equity shares by promoter Venkatachala Chakrapani Redla
Use of Proceeds: Repayment or prepayment of outstanding borrowings worth Rs 76 crore, investment in geospatial solutions and digital engineering technologies, and additional investments in overseas subsidiaries.

Aarvee Engineering Consultants Limited plans to utilise the proceeds from the fresh issue for multiple purposes, including repayment or prepayment of outstanding borrowings worth Rs 76 crore. The company also plans to invest Rs 21.9 crore in its Indian subsidiary SRA OSS Pvt Ltd to further develop geospatial solutions and digital engineering technologies.