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Our Bureau

Mumbai, Sept 21

The initial public offering of Consolidated Construction Consortium Ltd (CCCL), a provider of integrated construction services in the industrial, commercial, infrastructure and residential sectors, got subscribed 80.36 times on the last day of its IPO.

Total bids received were 29.73 crore across the price band of Rs 460-510.

The qualified institutional buyers (QIB) portion was subscribed 13.76 times, the non-institutional portion was subscribed 0.036 times, whereas the retail portion was subscribed 0.34 times.

There are 37 lakh shares on offer and the company plans to raise around Rs 189 crore to finance the acquisition of construction infrastructure, investment in subsidiaries, expenditures towards skill and management development centre, repayment of loans and expenditure for general corporate purposes.

The equity shares are proposed to be listed on the BSE and the NSE.

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