The initial public offer (IPO) of state-run NBCC, which is likely to mop up about Rs 120 crore, will open for subscription tomorrow.
The issue, which is slated to close on March 27, will see National Buildings Construction Corporation (NBCC) offering 12 million equity shares having a face value of 10 each.
The shares will be offered to investors in the price band of Rs 90-106.
"The government will dilute 10% [stake]... Rs 120 crore to be raised by NBCC IPO," Urban Development Minister Kamal Nath had said on Monday.
Nath had said the listing would happen in April.
NBCC provides project management consultancy services for construction projects, civil infrastructure for power sector and real estate development.
Credit rating agency CARE has assigned 'IPO Grade 4' to the proposed NBCC IPO, indicating above average fundamentals.
IDBI Capital and Enam are merchant bankers to the issue.
This would be the last public issue by government this fiscal, where it had put an ambitious Rs 40,000-crore disinvestment target.
However, due to volatile market conditions, only about Rs 14,000 crore has been realised so far.
The government plans to sell equity in blue-chip companies like SAIL, MMTC, Neyveli Lignite, Nalco and Oil India, to mop up Rs 30,000 crore in the next fiscal.
