According to reports, KMC Constructions Ltd, a diversified construction company, has finalised plans for a public float to part fund its expansion-cum-diversification plans of entering into solar power generation and BOT projects in railways.
The Hyderabad-based company, which now has 10 BOT road projects, including three annuity and seven toll ways with an aggregate order book of Rs 9,000 crore, has had investments from 3i and SNC Lavalin, the latter in the special purpose vehicle of the company.
The Managing Director of KMC Constructions, Mr M. Gautham Reddy, told Business Line, “the company had investments of Rs 825 crore from 3i, SNC Lavalin including Rs 175 crore from IDFC, Blue River Capital and Sequoia Capital in the past. We are looking at the IPO to part divest the company stake and offer exit route to some of the investors.”
The company closed last financial year ended March 31 with revenues of Rs 1,080 crore.
As part of the company efforts to meet its manpower requirement, KMC has set up a training arm which helps groom youth to take up jobs in the construction sector. This is handled through Peeple Tree, a HR training arm which has three centres at Hyderabad, Raibareilly and New Delhi.