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Vishnu Prakash R Punglia has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of 3.12 crore equity shares with no offer-for-sale (OFS) component.

The IPO size is expected to be Rs 300 crore. Proceeds from the fresh issuance to the tune of Rs 58.64 crore will be utilised for purchasing capital equipment, Rs 140 crore will be used for funding the working capital requirements of the company and the balance for general corporate purposes. Choice Capital Advisors and Pantomath Capital Advisors are the book-running lead managers. The equity shares are proposed to be listed on BSE and NSE.

The Jodhpur-based company has experience in the design and construction of major infrastructure projects for the central and state governments, with ongoing projects in nine states.