SKIL Infrastructure, the flagship company of the Nikkhi Gandhi-promoted SKIL Group, is in the process of raising Rs. 2,500 crore through private placement with overseas funds and an initial public issue. The total issue was sized at 15 per cent of the existing capital, sources said.
“We are in the process of raising Rs. 2,500 crore both through private placement with overseas banks and an initial public offer (IPO). We will submit papers to the Securities and Exchange Board of India (SEBI) next month for the IPO,” a senior company official said. “The amount raised will be utilised for investments in ongoing infrastructure projects, mainly defence and education,” the official added. The company, which had recently organised road shows in the U.S. and some European nations for the private placement, has received a good response, the official said.