Infrastructure Development major C&C Constructions raises Rs125 crore through issue of convertible warrants and QIP

Infrastructure Development major C&C Constructions raises Rs125 crore through issue of convertible warrants and QIP Another Rs. 50 crore to be raised by issue of convertible preference shares to private equity players; promoters' holding to come down to59.20% from70.42%

New Delhi, Delhi, April 12, 2010 /India PRwire/ -- C & C Constructions Limited, a leading infrastructure project development company, recently completed the first two phases of its fund raising exercise. In the first phase, the company issued Rs. 50 crores worth of convertible warrants to promoters at a price of Rs. 253. Subsequent to issuing these warrants, the company raised Rs. 75 crores via the QIP route at an issue price of Rs. 244. The management is in final stages of raising an additional Rs. 50 crores in convertible preference shares to a private equity player.

Commenting on the development, Mr. Gurjeet Singh Johar, Chairman, C & C Constructions Ltd., said:

"I am delighted to announce that we received a healthy response and successfully raised capital amounting to Rs. 125 crores with an additional Rs. 50 crores in the pipeline. Our endeavour is to capitalize on the extensive business traction and accordingly use the proceeds to buy construction equipment and strengthen investment in BOT projects. The company is on a robust growth trajectory and the funds raised will help finance this growth"

Notes to Editor

About C & C Constructions Limited

Incorporated in 1996, C & C Constructions Limited is an infrastructure project development company that provides engineering, procurement and construction services for infrastructure projects. Their project expertise lies primarily in transportation engineering projects including roads and bridges. In 2007, after successfully establishing a strong brand name and developing an area of core competency, C & C Constructions diversified its operations across two value added business divisions namely Building and water sanitation & sewerage to stay in line with the rise in demand for intricate value added projects.

The Company has also maintained a strategy of landing projects in places like Afghanistan, Bihar and other places where the operating conditions are challenging in order to be able to capture the higher margins offered in operating in such areas. C & C Constructions has found a good degree of success with this strategy and plans to scout for emerging opportunities in off beat geographies going forward.

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Vipin Labroo

Top Inspiration PR



Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. C & C Constructions Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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