HCC Plans IPO Worth Upto Rs 2 000 Crore For Subsidiary Lavasa Corporation
2010 August 1
Hindustan Construction Company’s (HCC) subsidiary Lavasa Corporation, has obtained board approval for an IPO of up to Rs 2,000 crore of fresh equity shares, subject to market conditions and obtaining necessary regulatory approvals.
Lavasa’s IPO will unbolt its true value, thereby enabling HCC to be one step closer in realizing its vision of creating a hill city development in India which offers infrastructure better than that available in an average Indian city.
Lavasa’s revenues during the quarter reached Rs 181 crore, up by 94% While,Its net profit went up by 87% to Rs 49 crore.
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