Brahamputra Consortium to float IPO

New Delhi: Infrastructure project development company Brahamputra Consortium (BCL) has filed its Draft Red Herring Prospectus with SEBI seeking to tap the capital market. The company will issue 4.2 million equity shares of Rs10 each at a price band to be decided later, said a company release. The issue is through a 100 per cent book building process.

BCL had an order book position of Rs730.93 crore as on January 1. The company will use the net proceeds of the IPO for purchasing capital equipment, augmenting its working capital requirements and investment in build operate transfer projects.