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Thursday, March 8, 2012

The IPO of the state-run National Building Construction Corporation (NBCC) is likely to open for subscription from Thursday, March 22, 2012.

The offer comprises a net offer of 11,880,000 equity shares and includes a reservation of 1,20,000 equity shares for subscription by the eligible employees. NBCC has appointed IDBI Capital Market Services Ltd. and Enam Securities Pvt. Ltd. as the Book Running Lead Managers. The company currently functions under the Ministry of Urban Development and is the largest public sector construction company in India

The government is looking to sell 10% stake in state-owned construction company NBCC via the initial public offering (IPO) route. The price band for this issue would be decided in the EGoM meeting scheduled on Monday, March 19, 2012

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