MUMBAI, June 8 (Reuters) - Construction firm Roman Tarmat
Ltd. plans to raise up to 507.5 million rupees through an initial
public offer of 2.9 million shares, constituting 26.46 percent of
its equity capital, a senior official said on Friday.
The Mumbai-based firm, which mainly operates in the road
construction segment, will offer shares in the 150-175 rupees per
share price band. The issue will open on June 12 and close on
June 19.
The money would be used for equipment purchase and for
funding long-term working capital. It already operates a
ready-mix concrete plant and crushing units near Mumbai.
A majority of its projects are for road construction or
building airport runways, Managing Director Jerry Verghese said.
"We are trying to spread our geographical coverage to
mitigate risks. We also plan to bid for build-operate-transfer
projects in order to grow," he said.
The company reported a net profit of 85 million rupees in the
year to March 2006, on total income of 909.4 million rupees. It
had orders worth 3.37 billion rupees.
Allianz Securities Ltd. and Darashaw & Co. Pvt Ltd. are the
book-running lead managers to the public issue.
((Reporting by Prashant Mehra, editing by S. Srinivasan; Reuters Messaging: [email protected]; +22 6636
9029))
Keywords: TARMAT OFFER/