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RKEC Projects share get listed on NSE, stock surges 20% on debut

Spiritual leader Sri Sri Ravi Shankar graces the momentous occasion

 Bangalore/Mumbai October 9, 2017: 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 at the Art of Living Yoga Centre in Bengaluru.

RKEC Projects stock made a strong debut listing at a 20% premium. The stock opened at Rs 54 and currently trading at the upper circuit.

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 the period ended March 31, 2017 and for year ended on March 31, 2016, fiscal 2015 and fiscal 2014, Company’s total revenue was at Rs 197.24 crore, Rs 112.58 crore, Rs 70.84 crore, Rs 57.26 crore respectively, registering  a CAGR of over 36%. 

Further, our EBITDA for the for the period ended March 31, 2017 and for year ended on March 31, 2016, fiscal 2015 and fiscal 2014 were Rs 28.37 crore, Rs 13.05 crore , Rs 9.43 crore and  Rs 9.53 crore respectively, registering  a CAGR of over 31%

For the period ended March 31, 2017, Company’s PAT grew over 86% since FY 2014. Company’s PAT stood at Rs 12.93 crore in FY 2017, Rs 3.34 crore in FY 2016, Rs  1.96 crore in FY 2015 and Rs 1.08 crore in FY2014, respectively.
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Location: Bengaluru, Karnataka, India

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