CCC Ltd enters capital market

Chennai, Sep 18: Consolidated Construction Consortium Limited (CCC), construction service provider, today entered the capital market with an initial public offer of 3,700,000 equity shares of Rs ten each.

Talking to newspersons here today, CCC Chairman R Sarabeswar said the issue would close on September 21 and the Company had fixed the price band between Rs 460 and Rs 510 per share.

The shares would be listed on the NSE and the BSE. The funds would be utilised for financing the acquisition of construction infrastructure, investment in subsidiaries, expenditure towards skill and management development centres, repayment of loans and expenditure of general corporate purposes.

He said as on July this year, the Company's total value of order book stood at Rs 20,495.68 million. This included 72 per cent in commercial sector, 15 per cent in infrastructure sector, 12 in Industrial sector and one per cent in Residential sector.

The Company was engaged in executing 146 projects to construct 4.50 million sq ft of industrial space, 17.96 million sq ft of commercial space and 0.55 million sq of residential space.

The projects included industrial structures, IT parks, commercial buildings, airport terminal buildings, hotels, hospitals and educational institutions.

To a question he said the attrition rate in the Company was zero per cent at the top level, 10 per cent at the middle level and 15 per cent at the lower level.

UNI