Consolidated Construction Consortium is planning to raise ₹50 crore through a preferential issue. The company intends to issue approximately 2.85 crore equity shares with a face value of ₹2 each on a preferential basis. The Board of Directors has approved the issuance at a price of ₹17.50 per share. The proposed issue, subject to shareholders’ approval, aims to bring on board prominent shareholders, including Systematic Conscom, a company specializing in construction solutions.
The funds raised from this issue will serve to enhance the company’s balance sheet and provide financial flexibility to capitalize on medium-to-long-term growth opportunities, according to a company statement.
R Sarabeswar, Chairman of CCCL, expressed confidence in the support from proposed investors, highlighting their belief in CCCL’s ability to navigate challenges stemming from contractual mismatches during times of global uncertainty and economic slowdown in India. He emphasized that this timely investment will mark a pivotal moment in the company’s ongoing business turnaround.
Founded by two former L&T engineers, Sarabeswar and Sivaramakrishnan, CCCL has successfully completed over 900 projects, including 294 Industrial Projects, 425 Commercial Projects, 7 Airports, 84 Residential Projects, and projects in various other sectors across 21 states. The cumulative built-up area of these projects exceeds 120 million sqft.
Published on February 26, 2025.
