Consolidated Construction IPO:CCCL plans IPO of Rs200 crore

Chennai based Consolidated Construction Consortium Ltd a turn-key construction services provider in India plans to raise about Rs 200 crore from the equity markets to finance its expansion.The company will issue 37 Lakh equity shares at the price of Rs 10 per share with a premium to be fixed later. Post IPO the issue will constitute 10.01% of the fully diluted paid up capital of the company.

At least 2.220,000 Equity Shares of face value of Rs. 10 will be issued to the Qualified Institutional Buyers (QIB) out of which 111,000 Equity Shares will be issued to to Mutual Funds.Non-Institutional Portion is to 370,000 Equity Shares and Retail Portion is 1,110,000 Equity Shares.

The company intends to purchase equipment to produce ready mix concrete, scaffolding material, piling machines, cranes for about a cost of Rs 90 Crore and repay loans to the extent of Rs 16 Crore with the IPO proceeds.

As of April 30, 2007 the company is executing 130 projects across various states in India and have received orders for six projects on which the company yet to commence construction. These projects involve the proposed construction of 4.35 million sq.ft. of industrial space, 17.58 million sq.ft. of commercial space, and 0.55 million sq.ft. of residential space. As of April 30, 2007, the company’s book order stood at Rs 1,812.53 crore.

CCCL private sector clientele operate in diverse sectors such as IT / ITES, hospitals, hospitality, pharmaceuticals, education, hospitality, manufacturing, retail, malls and multiplexes. Their clients include Infosys Technologies Limited, Ascendas IT Park (Chennai) Limited, Khivraj Technology Park Private Limited, Manipal University, Airport Authority of India Limited, Hi-Tech Carbon (a unit of Aditya Birla Nuvo Limited) and the Infosys Foundation.

CCCL plans to list their shares on Bse and Nse and have received the conformation from both the stock exchanges. Book running lead managers to the issue are Enam Financial Consultants Private Limited and Kotak Mahindra Capital Company Limited.Spark Capital Advisors (India) Private Limited is the Co-Book running Lead Manger to the issue. Karvy Computershare Private Limited is the registrar for the Consolidate Construction Consortium (CCCL) IPO.

For further updates on  Consolidated Construction Consortium Ltd (CCCL) IPO Subscription dates, Subscripiton details, allotment and listing dates do check this blog regularly.

For CCCL IPO draft prospectus  Click here.

For all Nse,Bse IPO’s in 2007 Click here.