Indian IPO

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Wednesday, February 08, 2006

BL Kashyap fixes price band for its IPO

BL Kashyap & Sons, BLK, has fixed a price band of Rs 625-700 per equity share for its forthcoming IPO, according to a release.

The public issue of 27,50,000 equity shares is being made through the 100% book built process.

There is also a green shoe option of up to 2,50,000 equity shares, which have been lent by Vineet Kashyap, one of the promoters.

BLK’s business activities cover commercial, corporate, residential and industrial construction.

In FY 05, the company posted a turnover of Rs 314 crore (Rs 3.14 billion) and a net profit of Rs 12 crore (Rs 120 million).

During the 6 months period ended September 30, 2005 BLK’s turnover was Rs 208 crore (Rs 2.08 billion) with a net profit of 13.5 crore (Rs 135 million).

BLK’s order book as on September 30, 2005 was Rs 579 crore(Rs 5.79 billion). Since then, BLK has bagged orders of over Rs 300 crore (Rs 3 billion) from prestigious corporates such as Uppal Housing, Embassy, Golf Links Software Park, etc.

Edelweiss Capital is the sole book running lead manager to the issue.

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