Consolidated Construction Consortium (CCCL) IPO is open for subscription to the public from today with 37,00,000 equity shares at a price band between Rs 460 and Rs 510 per equity share and the issue will close for subscription on September 21, 2007.
Accrording to the experts opinion on CCCL IPO majority of them have suggested that investors can apply for the issue and investors will recieve listing gains. Most of them said CCCL is a good issue and the demand in this counter is very good.
The company will be raised Rs 170.20 crore at lower end of price band and Rs 188.70 crore at higher end.
The equity shares are proposed to be listed on the National Stock Exchange of India and the Bombay Stock Exchange. The issue would constitute 10.01% of the post-issue paid up capital of the company. This issue has been assigned IPO grade 3 by ICRA.
The objects of the issue are to finance the acquisition of construction infrastructure, investment in subsidiaries, expenditures towards skill and management development centre, repayment of loans and expenditure for general corporate purposes.
The total value of its order book as on July 31, 2007, is Rs 20,495.68 million. These projects include industrial structures, IT parks, commercial building, airport terminal buildings, hotel, hospitals and educational institutions
The book running lead managers to the issue are Enam Securities Private Limited and Kotak Mahindra Capital Company Limited while the co-book running lead manager is Spark Capital Advisors (India) Private Limited. Karvy Computershare Pvt Ltd is the registrar to the issue.
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CCCL IPO allotment would be good
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