The initial public offering (IPO) of Consolidated Construction Consortium (CCCL), a provider of integrated turn-key construction services, has been given a good support from investors. Realty stocks has been surging high in last three days, that might be the reason for getting good subscription numbers.
Public issue received bids for 19.34 crore shares, including bids for 26.33 crore shares at cut off price. It was subscribed 52.29 times, as per NSE website.
The company had entered capital market with an initial public offer (IPO) of 37,00,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book building process. The price band is between Rs 460 and Rs 510 per equity share.
The company will be raised Rs 170.20 crore at lower end of price band and Rs 188.70 crore at higher end.
The equity shares are proposed to be listed on the National Stock Exchange of India and the Bombay Stock Exchange. The issue would constitute 10.01% of the post-issue paid up capital of the company.
The objects of the issue are to finance the acquisition of construction infrastructure, investment in subsidiaries, expenditures towards skill and management development centre, repayment of loans and expenditure for general corporate purposes.
The book running lead managers to the issue are Enam Securities Private Limited and Kotak Mahindra Capital Company Limited while the co-book running lead manager is Spark Capital Advisors (India) Private Limited. Karvy Computershare Pvt Ltd is the registrar to the issue.
Public issue received bids for 19.34 crore shares, including bids for 26.33 crore shares at cut off price. It was subscribed 52.29 times, as per NSE website.
The company had entered capital market with an initial public offer (IPO) of 37,00,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book building process. The price band is between Rs 460 and Rs 510 per equity share.
The company will be raised Rs 170.20 crore at lower end of price band and Rs 188.70 crore at higher end.
The equity shares are proposed to be listed on the National Stock Exchange of India and the Bombay Stock Exchange. The issue would constitute 10.01% of the post-issue paid up capital of the company.
The objects of the issue are to finance the acquisition of construction infrastructure, investment in subsidiaries, expenditures towards skill and management development centre, repayment of loans and expenditure for general corporate purposes.
The book running lead managers to the issue are Enam Securities Private Limited and Kotak Mahindra Capital Company Limited while the co-book running lead manager is Spark Capital Advisors (India) Private Limited. Karvy Computershare Pvt Ltd is the registrar to the issue.
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