NBCC IPO opens for subscription - Indian IPO Blog

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Thursday, March 22, 2012

NBCC IPO opens for subscription

The IPO of National Building Construction Corporation (NBCC) opens for subscription from today, March 22, 2012. NBCC is planning to raise Rs.120 crore via initial public offer of 1.2 crore equity shares, by diluting 10% stake. The price band for the issue has fixed at Rs.90 to Rs.106 a share

Retail Investors and Eligible Employees would be entitled to a Discount of 5% on the Final Issue Price of the IPO. “NBCC offer is unique in a sense that there are no listed project management consultancy firm,” said Abhay Bongirwar, managing director and CEO at IDBI Capital Market Services, which is one of the book running lead managers along with Enam Securities Pvt Ltd.

“Though the NBCC offer is small, it is very important from the government perspective as the revenue raised would flow into the government coffers and not contribute to the expansion of the company,” said an NBCC official.

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