Maharashtra-based civil construction company Active Infrastructure IPO is set to open its maiden public issue for subscription on March 21, with a price band fixed at Rs 178-181 per share. This will be the fifth IPO from the SME segment to hit Dalal Street in the current week.

The IPO comprises an all-new issue of 43 lakh shares with no offer-for-sale component. Half of the net offer size is reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

The company, which deals in construction of infrastructure and commercial projects, aims to raise Rs 77.83 crore through the initial public offering.

It intends to use Rs 38.98 crore of the net IPO proceeds for its working capital requirements and Rs 16.72 crore to repay debt.

Further, Rs 7.05 crore will be used for purchase of construction equipment and the remaining amount will be used for general corporate purpose.

Active Infrastructure will finalise the IPO share allotment by March 26, while trading in its equity shares will commence on NSE Emerge from March 28. Creo Capital is acting as the merchant banker for the public issue.