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Business News/ Opinion / Online-views/  NBCC to raise about Rs120 crore through IPO
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NBCC to raise about Rs120 crore through IPO

NBCC to raise about Rs120 crore through IPO


Mumbia: State-run construction firm, National Buildings Construction Corporation Ltd (NBCC) on Tuesday announced a price-band of 90-106 for its initial public offer (IPO) of 12 million shares, between 22-27 March. The new share sale is an offer for sale through which the central government will pare its stake by 10% to raise about 120 crore.

Against a divestment target of 40,000 crore, the government will be raising only around 14,000 crore through divestments in the current fiscal. The government planned divestment target for the next fiscal is 30,000 crore.

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Published: 20 Mar 2012, 06:55 PM IST
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