Tantia Constructions public issue subscribed 82.68 times

Kolkata, Apr 04 (UNI) The initial public issue of Tantia Constructions Limited, a core infrastructure constructions company, was subscribed 82.68 times when the issues closed on March 31.

The company's public issues of 42,50,000 equity shares of Rs 10 each in a price band of Rs 45 to Rs 50 opened on March 22 and it received approximately 1,48,000 applications.

The net offer would constitute 27.30 per cent of the fully diluted post issue capital of the company.

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/Boot projects, towards repayment of debt and public deposits.

The company has achieved a turnover of Rs 96 crore and clocked net profit of Rs 4.08 crore in the first 9 months of 2005-06.

The Company has a current order book in excess of Rs 800 Cr.

The company is presently executing a number of major projects including the 2.1 Km mega bridge on river Koshi, 165 KM roadways in Mizoram, AAI Airport Terminal at Dibrugarh and five km of Tramway in Kolkata.

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