Government owned National Buildings Construction Corporation (NBCC) is set to hit capital market on March 22, 2012 in order to raise Rs. 120 cr via sale of 1.2 cr equity shares. Government has fixed the price band of Rs 90-106 a share for the initial public offer (IPO) of NBCC. A Discount of Rs.5 for Retail Bidders and Eligible Employees are being offered.
NBCC is engaged in the business of civil infrastructure for power sector, project management and consultancy services for civil construction projects, and real estate development. Enam Securities Pvt. Ltd. and IDBI Capital Market Services Ltd are Book Running Lead Managers (BRLM) managing the issue. Credit rating agency ‘CARE’ has given IPO Grade of 4/5 indicating above average fundamentals.
Issue will open for subscription from March 22 to March 27. Shares of NBCC will get listed on NSE and BSE in the month of April. This will be last issue by government under divestment program, so far government has achieved only 14000 cr through divestment as against target of 40,000 cr.
A Discount of Rs.5 for Retail Bidders and Eligible Employees
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