The price band of National Buildings Construction Corporation has been fixed at Rs 90-106. The initial public offering will open on March 22 and close on March 27, said the company at a press meet on Tuesday.
The company plans to raise around Rs 106 crore at the lower end of the price band and around Rs 125 crore at the upper end. A discount of five per cent to the offer price will be offered to retail investors and eligible employees. A total of 1.18 crore shares, constituting 10 per cent of the post-offer paid-up equity share capital, has been offered for subscription.
Bids can be made for a minimum of 60 equity shares and in multiples of 60 equity shares thereafter, said the release from the company.
NBCC is a public sector enterprise engaged in the business of project management consultancy services for civil construction projects and infrastructure projects for real estate and power sector development.
This issue is a part of the Government's disinvestment policy. The Finance Minister, in his Budget speech had said that the Government had so far collected Rs 14,000 crore through disinvestment this fiscal.