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Our Bureau

Price band fixed at Rs 150-175

BREAKING NEW GROUNDS: Mr R. C. Sinha (right), Chairman, Roman Tarmat Ltd, with Mr Jerry Verghese, Managing Director, at a press conference to announce the company's initial public offering in Mumbai on Friday. - Paul Noronha

Mumbai June 8 Infrastructure construction company, Roman Tarmat Ltd, plans to enter the capital market with an initial public offering of 29 lakh equity shares of Rs 10 each for cash at a premium to be decided through a 100 per cent book building process.

The price band for the issue has been fixed at Rs 150-Rs 175.

The proceeds of the issue will be used to buy equipment worth Rs 22.9 crore. "Further, Rs 18 crore is to be used as working capital," said Mr Jerry Verghese, Managing Director, Roman Tarmat Ltd.

The issue accounts for 26.4 per cent of the equity capital of the country.

Roman Tarmat Ltd provides engineering, procurement and construction services for infrastructure projects sponsored by Government/Government agencies, including the Central Government, State Government and municipalities.

"We are planning to bid for build-operate-transfer projects in order to grow," said Mr Verghese.

In June last year, the company had raised Rs 15.1 crore by selling shares to private investors. The company currently has an order book worth Rs 337 crore.

The issue opens on June 12 and closes on June 19.

Allianz Securities Ltd and Darashaw & Co Pvt Ltd are the book-running lead managers to the public issue.

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