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.