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Saturday, June 09, 2007

Roman Tarmat IPO opens on June 12; price band Rs 150-175

In order to meet its capital requirement for expansion of activities, Roman Tarmat, a medium sized Mumbai-based infrastructure company, is entering the capital market on June 12 with an initial public offer (IPO) of 2,900,000 equity shares of Rs 10 each for cash at a price to be decided through the book building process.

Addressing a press conference here, Mr Jerry Varghese, Managing Director of the company, informed that the price band for the issue has been fixed between Rs 150 and Rs 175 per equity share.

The issue will open on June 12 and close for subscription on June 19. The equity shares of the company would be listed on the Bombay Stock Exchange and National Stock Exchange.

The issue proceeds will be used for investment in capital equipment, funding long term working capital requirements and general corporate purposes.

The company, which was established in 1986, has earned name and fame among the infrastructure companies in a short span. The company has completed construction works for leading corporates such as Mahindra and Ashok Leyland, Mr Verghese said.

Roman Tarmat's activities are mainly in the Airport and side works, Highways and Civil works, he said.

Mr R C Sinha, Managing Director of Maharashtra Airport Development Company, who is also the non-executive Chairman of the Roman Tarmat, said the future prospects of the company are bright since the infrastructure sector expected to lead the country's growth in the coming years.

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