Consolidated Construction IPO oversubscribed 8.37 times
Consolidated Construction IPO oversubscribed 8.37 times
Chennai-based Consolidated Construction (Q, N,C,F)* Consortium (CCCL), a company engaged in construction services, received 8.37 times oversubscription for its public issue till September 20. CCCL received 30,953,232 share applications as against the issue size of 3,700,000 shares. A total of 357,960 bids were received at cut off price. CCCL fixed the price band of Rs 460 to Rs 510 a share of face value of Rs 10. The issue is open till September 21.CCCL intends to deploy the issue proceeds to acquire construction infrastructure, invest in its subsidiaries, settting up of skill and management development centres, repaying of loans, and fund expenditures for general corporate purposes.Incorporated in 1997, CCCL is a provider of integrated turn-key construction services to the industrial, commercial, infrastructure and residential sectors of the construction industry. It holds experience of executing 334 projects (comprising of 104 industrial projects, 172 commercial projects, 14 infrastructure projects, and 44 residential projects) across 14 states and union territories in India. Presently, the company is executing 146 projects across various states in India, which involve construction of 4.57 million sq ft of industrial space, 17.96 million sq ft of commercial space, and 0.55 million sq ft of residential space. As of Jul. 31, 2007, the total value o f order book is Rs 20,495.68 million.
IPO Allotment Price , Grey Market Premium , Allotment Status , Listing Information
