The Hindu Business Line : C&C Constructions plans IPO with a price band of Rs 270-291

LAUNCHING PAD: Mr G.S. Johar (left), Chairman, C&C Constructions, with Mr C.S. Sethi, MD, at a press conference to announce the company's IPO in Mumbai. - Paul Noronha

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Mumbai Feb. 2 C & C Constructions Ltd, an infrastructure company, proposes to enter the capital market with a public issue of 4,269,451 equity shares of Rs10 each through a 100 per cent book building process.

The price band has been fixed at Rs 270 to Rs 291. The issue would comprise 23.38 per cent of the fully diluted post-issue capital of the company.

At least 60 per cent of the issue shall be allotted on a proportionate basis to qualified institutional bidders. Five per cent of the QIB portion shall be allocated on a proportionate basis to mutual funds and 30 per cent of the issue shall be available for allocation on a proportionate basis to retail individual bidders. The issue proceeds will be used to fund investments in capital equipment, toll projects and enhance working capital. The issue opens on February 5 and closes on February 9 and the shares are proposed to be listed on the BSE and the NSE.

Edelweiss Capital Ltd is the sole book running lead manager for the issue.

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