| Initial public offer of up to [*] equity shares of face value of
Rs. 2/- each ("equity shares") of Rays Power Infra Limited ("company" or "issuer") for cash at a price of Rs. [*] per equity share ("offer price") aggregating up to Rs. 1150.00 crores ("offer"). The offer comprises a fresh issue of up to [*] equity shares of face value of Rs. 2/- each aggregating up to Rs.900.00 crores ("fresh issue") and an offer for sale of upto [*] equity shares of face value of Rs. 2/- each aggregating up to Rs. 250.00 crores, upto [*] equity shares aggregating up to Rs. 98.20 crores by Ketan Mehta, upto [*] equity shares aggregating up to Rs. 73.60 crores by Pawan Kumar Sharma, upto [*] equity shares aggregating up to Rs. 73.60 crores by Sanjay Garudapally and upto [*] equity shares aggregating up to Rs. 4.60 crores by Vivek Jain (collectively, "selling shareholders" and such offer for sale by the selling shareholders, "offer for sale").
The offer includes a reservation of upto [*] equity shares of face value of Rs. 2/- each, aggregating up to Rs. [*] crores, for subscription by eligible employees not exceeding 5.00% of the post-offer paid-up equity share capital (the "employee reservation portion"). The company, in consultation with the book running lead managers, may offer a discount of upto [*] % to the offer price (equivalent to Rs.[*] per equity share) to eligible employees biddng under the employee reservation portion ("employee discount"). The offer less the employee reservation portion is hereinafter referred to as the "net offer". The offer and the net offer shall constitute [*]% and [*]%, respectively, of the post-offer paid-up equity share capital of the company.
The company, in consultation with the brlms, may consider a pre-ipo placement of specified securities as may be permitted under the applicable law, aggregating upto Rs. 180.00 crores, at its discretion, prior to filing of the pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the brlms. if the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the fresh issue, subject to compliance with Rule 19(2)(b) of the scrr. The pre-ipo placement, if undertaken, shall not exceed 20% of the size of the fresh issue. The utilisation of the proceeds raised pursuant to the pre-ipo placement will be done towards the objects in compliance with applicable law. prior to the completion of the offer, the company shall appropriately intimate the subscribers to the pre-ipo placement, prior to allotment pursuant to the pre-ipo placement, that there is no guarantee that the company may proceed with the offer or the offer may be successful and will result into listing of the equity shares on the stock exchanges. The company shall report any pre-ipo placement to the stock exchanges, within 24 hours of such pre-ipo placement (in part or in entirety). Further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if undertaken).
The face value of the equity shares is Rs. 2/- each. the price band, and the minimum bid lot will be decided by the company. |