NBCC Sets IPO Price Band At Rs 90 to106 Per Share (21-Mar-2012)
The government owned National Buildings Construction Corporation (NBCC) has set the price band of Rs 90-106 per share for its initial public offer (IPO). The company plans to issue 12,000,000 equity shares having face value of Rs 10 each and thus divest 10% of government's stake. The issue proceeds will accordingly be taken by the government.
The issue opens on March 22, 2012 and closes on March 27, 2012. IDBI Capital Market Services and Enam Securities are the book running lead managers and Bigshare Services is the registrar to the offer.
The ISO 9001:2008 certified company is one of the few Public Sector Unit (PSU) engaged in business of project management consultancy services for civil construction projects, civil infrastructure for power sector and real estate development. Incorporated in November 1960, NBCC is headquartered in New Delhi having projects web spread across 23 states and 1 union territory in India. In addition, the company has also undertaken projects overseas.
NBCC presently operates under Ministry of Urban Development and has also received 'Excellent' rating from the same for each of the fiscal years from 2004 to 2010. Ministry of Heavy Industries & Public Enterprises has awarded the company with an 'Excellence Award.'
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