A2Z Maintenance and Engineering Services will list its IPO equity shares on NSE BSE stock exchange on DEC 23 with an issue price at lower end of price band of Rs 400-410 a share: IPO Allotments, price, subscription, status and prospectus

Engineering, procurement and construction (EPC) services provider A2Z Maintenance and Engineering Services will be listing its equity shares on exchanges on December 23. It has fixed an issue price at lower end of price band of Rs 400-410 a share.
The issue was just managed to sail through, which was subscribed 0.96 times

The company raised Rs 776.25 crore through IPO of 1,94,07,750 equity shares; it consists of fresh issue of Rs 675 crore and offer for sale of Rs 101.25 crore. Earlier it had aim to raise around Rs 860 crore.
The company will not receive any proceeds from the offer for sale. Fresh issue will be used for investment in three biomass (bagasse)-based power cogeneration projects of 15 MW each in the State of Punjab; investment in five biomass-based power generation projects of 15 MW each in the State of Rajasthan; investment in subsidiaries; repayment of a loan granted by L&T Infrastructure Finance Company Limited (L&T Infrastructure Finance) to the company; and working capital requirements.
A2Z Maintenance provides services to the power transmission and distribution sector with a focus primarily on the distribution segment. 
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