Brahamputra Consortium seeks SEBI nod for IPO

Mumbai, May 8: Infrastructure project development company Brahamputra Consortium Limited (BCL) has filed its Draft Red Herring Prospectus (DRHP) with stock market regulator Securities and Exchange Board of India (SEBI) seeking to tap the capital market.

The company seeks to issue 4.2 million equity shares of Rs 10 each in a price band to be decided later. The issue is through a 100 per cent book-building process, the release said.

BCL has an order book position of Rs 7,309.38 million as on January 1, with a well-diversified project portfolio such as roads and highways, airports, tunnels, rail over bridges, mining, hydro power projects and real estate.

The company wants to use the net proceeds of the initial public offer (IPO) for purchasing capital equipment, augmenting its working capital requirements and investment in build, operate and transfer (BOT) projects, the release added.

UNI