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Tuesday, March 20, 2012

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


IPO to remain open between 22 and 27 March 2012

State-run National Buildings Construction Corporation (NBCC) has fixed a price band of Rs 90-106 per share for its upcoming initial public offer (IPO). Retail investors and employees will get shares at a 5% discount to final price of the issue. The IPO remains open for bidding between 22 and 27 March 2012.

The IPO constitutes an offer for sale by the Government of India of 1.2 crore equity shares or 10% of the company's post issue paid-up capital.



Rating agency Credit Analysis & Research has assigned an ‘Grade 4' to NBCC's IPO, indicating above average fundamentals.

The NBCC share sale is part of the government's plan to raise Rs 40000 crore in the current fiscal year ending March 2012 through stake sales in state-run firms.

NBCC is engaged in the business of providing project management consultancy services for civil construction projects, civil infrastructure for power sector and real estate development.