NBCC sets IPO price band at Rs 90-106 per share

Business

oi-Sneha

By Sneha B K

Published: Tuesday, March 20, 2012, 12:22 [IST]

National Buildings Construction Corporation (NBCC) has fixed a share price band of Rs 90-106 to raise upto Rs127 crore, according to news reports.

The government till now has raised Rs 14,000 crore through stake dilution, for the current year, despite setting a higher divestment target. The government has plans to sell a 10% stake in the company.

NBCC is into services for civil construction projects; civil infrastructure for power sector; and real estate development.

IDBI Capital and Enam Securities are the merchant bankers to the issue. The company will issue its shares for subscription on March 22, 2012 and has fixed a closing date of March 27, 2012.

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