Latest news with #BigBlocConstruction
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Business Standard
8 hours ago
- Business
- Business Standard
StarBigBloc Building gets shareholders' approval to raise funds via IPO
StarBigBloc Building Material, a wholly-owned subsidiary of BigBloc Construction, on Tuesday said it has received shareholders' approval to raise funds through an initial public offering. The Initial Public Offering plan, cleared at an extraordinary general meeting held on June 13, is aimed at unlocking value, raising growth capital for expansion, and enhancing the valuation of the parent company BigBloc Construction, it said. The public issue proposal is subject to necessary regulatory approvals, prevailing market conditions, and other applicable clearances, it added. "The IPO will enable StarBigBloc Building Material to access capital markets, drive the next phase of expansion, and solidify its market position across India," Mohit Saboo, Director and Chief Financial Officer of BigBloc Construction, said. Incorporated in 2015, BigBloc Construction is one of the largest and only listed AAC block manufacturers in India, with a 1.3 million cubic meters annual capacity across plants in Gujarat and Maharashtra. For FY25, BigBloc Construction reported revenue from operations of Rs 224.6 crore. StarBigBloc Building Material operates a manufacturing facility in Gujarat with an installed capacity of 2.5 lakh cubic meters per annum. In May 2024, StarBigBloc board approved a proposal to raise funds through an SME IPO or preferential issue. As part of its long-term growth roadmap, StarBigBloc aims to increase its production capacity from the current 2.5 lakh cubic meters per annum to over 1.2 million cubic meters per annum over the next 4-5 years. The company is also targeting revenues of Rs 428 crore by FY28, with an estimated net profit of Rs 80 crore. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
9 hours ago
- Business
- Time of India
StarBigBloc Building gets shareholders' nod for IPO
StarBigBloc Building Material, a wholly-owned subsidiary of BigBloc Construction , on Tuesday said it has received shareholders' approval to raise funds through an initial public offering. The Initial Public Offering plan, cleared at an extraordinary general meeting held on June 13, is aimed at unlocking value, raising growth capital for expansion, and enhancing the valuation of the parent company BigBloc Construction , it said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The public issue proposal is subject to necessary regulatory approvals, prevailing market conditions, and other applicable clearances, it added. "The IPO will enable StarBigBloc Building Material to access capital markets, drive the next phase of expansion, and solidify its market position across India," Mohit Saboo, Director and Chief Financial Officer of BigBloc Construction, said. Incorporated in 2015, BigBloc Construction is one of the largest and only listed AAC block manufacturers in India, with a 1.3 million cubic meters annual capacity across plants in Gujarat and Maharashtra. For FY25, BigBloc Construction reported revenue from operations of Rs 224.6 crore. Live Events StarBigBloc Building Material operates a manufacturing facility in Gujarat with an installed capacity of 2.5 lakh cubic meters per annum. In May 2024, StarBigBloc board approved a proposal to raise funds through an SME IPO or preferential issue. As part of its long-term growth roadmap, StarBigBloc aims to increase its production capacity from the current 2.5 lakh cubic meters per annum to over 1.2 million cubic meters per annum over the next 4-5 years. The company is also targeting revenues of Rs 428 crore by FY28, with an estimated net profit of Rs 80 crore.
