Stock Report

CCCL to issue Equity Shares aggregating Rs 50,00,00,130/- on preferential basis @ Rs. 17.50 per share

Posted On : 2025-02-25 23:43:50( TIMEZONE : IST )

Consolidated Construction Consortium Ltd (CCCL), an ISO certified India’s premier construction services company with a total turnover of over Rs.17,000 crores since 1997 announced that its Board of Directors, in its meeting held today, approved the issuance of up to 2,85,71,436 equity shares of face value of Rs. 2/- each, on a preferential basis.

The Board of Directors, in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable laws, determined a price of Rs. 17.50/- share aggregating to Rs. 500000130/-. This preferential issue is subject to necessary approvals, including from the Company’s shareholders.

The proposed issue will bring on board high-quality and marquee shareholders of scale and repute such as Systematic Conscom Ltd., (www.conscom.in), a company engaged in the business of construction solutions.

The funds from this issue, if approved, will further strengthen the Company’s balance sheet profile and will also augment the financial flexibility to address medium-to-long term growth prospects.

Commenting on the investment which is subject to necessary approvals, Mr R Sarabeswar Chairman CCCL said, "We are humbled by the confidence and trust placed by proposed investors in supporting CCCL turnaround, from the difficulties it encountered due to contractual mis-matches, at the time of global uncertainty and economic slowdown in India. As we aspire to rebuild CCCL as one of the best construction services companies that can handle complex projects, this timely investment will be a point of inflexion in our ongoing business turnaround."

Shares of Consolidated Construction Consortium Limited was last trading in BSE at Rs. 14.87 as compared to the previous close of Rs. 14.17. The total number of shares traded during the day was 559861 in over 281 trades.

The stock hit an intraday high of Rs. 14.87 and intraday low of 13.51. The net turnover during the day was Rs. 8284444.00.