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NT Bureau
Chennai, Sept 21:

        Consolidated Construction Consortium Ltd, the provider of turnkey projects in the building infrastructure, has tapped the capital market with a public issue of 37 lakh equity shares of Rs 10 each at a price band of Rs 460 to Rs 510 per share.

        The IPO (initial public offer) opened on 18 September to close on 21 September and the bid offer would constitute 10 per cent of the post-issue paid up capital of the company. The objective of the IPO was to finance the acquisition of construction equipment and facilities, investment in subsidiaries, expenditure towards skill and management development centre, repayment of loans and other miscellaneous funds for corporate purposes.

        Established in 1997, the Chennai-based CCC Ltd has promoters who have over 20 years of experience each in the construction sector. Since completing its first project, a temple in Tamilnadu in 1998, the company had executed 334 buildings comprising 104 industrial projects, 172 commercial arcades, 14 infrastructure projects and 44 residential complexes across 14 states and union territories in India. The total built-up area of the projects executed by the company aggregated to 19 million sq ft which included factories, residential and commercial buildings, hospitals, hotels, power plants and structures like water tanks, water supply schemes and bridges.