Consolidated Construction Consortium Ltd. (CCCL), a construction services company in India, has unveiled its plan to raise ₹50 crore through a preferential equity issuance. The company’s Board has given the green light for the issuance of up to 2,85,71,436 equity shares at a price of ₹17.50 per share.
The preferential issue, in line with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, is contingent upon shareholder and regulatory approvals.
As part of this fundraising initiative, CCCL aims to attract renowned investors, including Systematic Conscom Ltd., a company specializing in construction solutions.
The injection of capital is anticipated to bolster CCCL’s financial standing and bolster its capacity to pursue medium- to long-term growth opportunities.
In reference to the investment, subject to requisite approvals, CCCL Chairman R. Sarabeswar commented: “We are grateful for the faith shown in us by our investors amidst these challenging economic conditions. This investment marks a pivotal moment in CCCL’s business transformation as we strive to regain our position as a leader in managing intricate construction projects.”
For the nine months of this fiscal year, the company recorded a profit after tax of ₹40 crore, compared to a net loss of ₹671 crore in the corresponding period last year. Revenue amounted to ₹134 crore, up from ₹98 crore.
Last year, the company reached a one-time settlement agreement with lenders following its exit from the IBC proceedings. Sarabeswar stated, “Having settled all dues, we are now a debt-free company.”
Published on February 24, 2025.
