RKEC Projects Limited shares surge 20% post the listing

RKEC Projects Limited, a diversified infrastructure company based in Vishakhapatnam, Andhra Pradesh, became 89th SME Company to get listed on NSE Emerge on 9th October 2017.

Guest of Honor, Spiritual leader Sri Sri Ravi Shankar ji graced the momentous occasion along with other dignitaries at the listing ceremony held on Oct 9, 2017.

RKEC Projects Ltd’s Rs 28.70 cr IPO comprising 63,80,000 equity shares of face value of Rs. 10 each  for cash at a price of Rs. 45 per equity share, received overwhelming response from investors. The issue which opened for bids at NSE SME Emerge platform on September 25, 2017, subscribed 18.23 times on the final day.  The HNI and RII portion subscribed 30.37 and 7.92 times, respectively, as per data available on NSE. Proceeds of IPO will be utilized towards working capital requirement and general corporate purpose.

The Lead Manager to the Issue is Hem Securities Limited, a leading player in SME IPOs and the Registrar to the Offer is Bigshare Services Pvt. Ltd.

The Company was incorporated as RKEC Projects Private Limited on April 01, 2005. Its core business is designing and undertaking construction projects such as Bridges, Ports, dams, high rise structures, airports, cross water, roads, highways, Oil and gas Pipe lines, complexes and environmental structures across India.

Commenting of the mementos occasion Mr Radhakrishna Garapati, Chairman and Managing Director, RKEC Projects Limited, said, “We at RKEC group are proud and delighted to have our company listed on the SME platform of National Stock Exchange. We had a humble beginning 32 years ago and today it’s indeed a proud moment for all of us. During the last decades, the Company has undertaken and successfully completed many construction projects in India covering states of Andhra Pradesh, Tamil Nadu, Gujarat, Odisha, Rajasthan and Maharashtra. In addition to them, it has expanded its presence to three more states, Kerala, Uttar Pradesh and Manipur, with ongoing projects. The Company has completed 81 projects worth Rs 1,049 crore and currently it is working on 7 new Projects. The Company’s order book in terms of total value of contracts stands at approximately Rs 705 crore. Company have entered into projects for diverse range of clients like Defence sector, Railways, Ports, Adani Port, Vedanta Ltd, IVRCL Limited, Rashtriya Ispat Nigam Limited and ESSAR,” he said.

Looking at the company’s strengths, capabilities, 32 years of  valuable experience, expertise and expansion plans, exclusively in infrastructure projects, we are here to take the company to next level and create wealth for the investors” added Mr Garapati

For more information, please contact: Mr. Aryan Prem Rana, AARYANA MATASCO

 

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Aryan Prem Rana

Post graduate in PR & Corporate Communication, has extensive experience of over 15 years in integrated corporate & financial communications, client servicing, managing Public Relations, Media Relations and Investor Relations activities for nearly 100 Corporate clients of all sizes at leading PR Consultancies such as Adfactors PR, Sampark PR, Genesis-Impact Research and Xavier Institute of Communications. Valuable experience and expertise in Digital and Social Media Communications, Management of Knowledge Information, Environment Scanning, Research and Media Monitoring, Planning and execution of various events such as IPO Roadshows, Press & Investor Conferences, Seminars, Award Functions, Building & Maintaining relationships with Govt Agencies, Media, Investor community, AD /PR agencies and Academic Field.

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