Prakash Constrowell comes with IPO on 19th September

September 15, 2011   ·   0 Comments

Prakash Constrowell, engaged in the business of infrastructure development and civil construction, will enter the capital markets Monday with its initial public offering to raise Rs 60 crore through 100 per cent book building process.

www.stockssavvy.comPrakash Constrowell operates in the three segments of construction viz. infrastructure development, civil construction and residential & commercial real estate construction.  The proceeds will be utilized to meet working capital requirement, investment in construction equipments and investment in subsidiaries.  The price band and minimum bid lot will be announced at least two working days prior to the Issue opening date.

Issue Detail:

Issue Open: Sep 19, 2011 – Sep 21, 2011
Issue Type: 100% Book Built Issue IPO
Issue Size: Equity Shares of Rs. 10
Issue Size: Rs. 60.00 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Yet to decide

The Issue has been graded by CARE as “CARE IPO Grade 2” indicating below average fundamentals.

Intensive Fiscal Services is the sole Book Running Lead Manager to the Issue.  As of June 30, 2011, the company’s order book stood at Rs 150.81 crore. Its income from operations on a consolidated basis as per the restated financials has grown to Rs 126.91 crore in the year 2010-11 from Rs 26.40 crore in 2007-08.  Its profit after tax on a consolidated basis as per the restated financials has grown from Rs 3.06 crore in the year 2007-08 to Rs 10.65 crore in the year 2010-11.

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Rajesh Singla

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