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Public Issue opens on March 27,P B fixed at Rs 45 to Rs 50

Written by: Staff
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Hyderabad, Mar 23 (UNI) Tantia Constructions Limited (TCL), a core infrastructure construction company with its headquarters in Kolkata, and operations spread across Indian subcontinent, proposes to enter the Capital Market on March 27, 2006 with a Public Issue of 42,50,000 Equity Shares of Rs 10 each through 100 pper cent Book Building process.

The Price band has been fixed at Rs 45 to Rs 50 and the Issue closes on 31 March 2006. The net offer will constitute 27.30 per cent of the fully diluted post issue capital of the company.

The company proposes to list the Shares on Bombay Stock Exchange Limited (BSE), company Chairman and Managing Director IP Tantia told the media here today.

The company posted a turnover of Rs 96 crore and net profits of 4.08 crore in the first nine months of the current financial year 2005-06, has its current order book in excess of Rs 800 crore, and is executing some very prestigious projects including the 15km of Tramways in Kolkata, 2.1km Mega Bridge on river Kosi, 165km Roadways in Mizoram and AAI Airport terminal at Dibrugarh.

The company has adopted latest innovative methods and dedicated services and is among the first Indian Companies to have been accredited with ''ISO 9001:2000'' management system certificate from Det Norske Vertias Netherland for infrastructure projects.

The company intends to use the net proceeds of the Issue to purchase capital equipment, for enhancement of long-term working capital requirement, for investment in Bot and BOOT projects, towards repayment of debt and public deposits.

UNI DB VV pkn1628

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