Barak Valley Cements, the north east based cement manufacturer, which tapped the capital market between Oct 29-Nov1, 07 with its initial public offering of 5660000 equity shares will list on the bourses on Nov 23, 2007. The offer being through 100% book building the allotment price is found at Rs 42 earlier and allotment were completed. The share will also be listed on National Stock Exchange (NSE) apart from the designated exchange of Bombay Stock Exchange Limited ("BSE").

Barak Valley Cement is first Company based in the north east region to approach the capital market and to meet its funding requirement of augmenting its clinkerisation capacity from present 420 TPD (tonnes per day) to 600 TPD, cement grinding capacity from 460 TPD to 750 TPD, investment in wholly owned subsidiary - Badarpur Energy (P) for setting up a 6 MW biomass based power project, to meet the working capital requirements and for general corporate purpose. Its IPO received an overwhelming response from the investors and the IPO was subscribed approximately around 29 times. The Qualified Institutional Buyer ("QIB") portion was subscribed approximately around 24 times, the Non-Institutional Portion was subscribed approximately around 25 times and the Retail portion was subscribed approximately around 39 times.

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