C & C Constructions fixes price band for IPO at Rs 270 to Rs 291

Mumbai, Feb 1 (UNI) C&C Constructions Ltd, an infrastructure project development company with projects in India and Afghanistan, has proposed to enter the capital markets with an initial public offering of 4,269,451 equity shares of Rs 10 each through a 100 per cent book-building process.

Announcing this at a news conference here today, the company's managing director Charanjit Singh Sethi said C&C Constructions has fixed the price band for its IPO at Rs 270 to Rs 291. It proposes to deploy the proceeds of the Issue for funding investment in capital equipment, investment in BOT projects and augmenting working capital requirement.

The issue, opening on February 5 and closing on February 9, would constitute 23.38 per cent of the fully diluted post-issue capital of the company and is expected to mobilise Rs 124.24 crore at the upper end of the price band. The equity shares are to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

As part of its international operations, the Company has been present in Afghanistan since 2003.

Edelweiss Capital is the sole Book Running Lead Manager to the issue.

UNI