Roman Tarmat issue price Rs 150-175 per share

MUMBAI: Roman Tarmat Ltd entered the capital markets with an initial public offer of 2,900,000 equity shares.

The price band has been fixed between Rs 150 and Rs 175 per share. The issue closes on June 19.

The issue comprises a reservation of 100,000 shares of Rs 10 each for eligible employees. Up to 50% of the net issue shall be allotted to qualified institutional buyers, of which 5% shall be allotted to mutual funds.

Around 35% of the net issue is reserved for retail individual bidders and 15% available for non-institutional bidders.

Roman Tarmat provides engineering, procurement and construction services for infrastructure projects sponsored by government/ agencies. The Mumbai-based is engaged in the business of highways, runways and other civil work.

The proceeds from the proposed issue are intended to be deployed for investment in capital equipment and for funding the long-term working capital requirements.

The company posted a total income of Rs 90.94 crore for 2005-06 (April-March), compared to Rs 77.30 crore in the previous year and Rs 50.43 crore in 2003-04. Net profit for for 2005-06 was Rs 8.50 crore, compared to Rs 3.67 crore year ago and Rs 1.72 crore before that. The order book as on April 30, 2007, was Rs. 336.89 crore.

The book running lead managers are Allianz Securities and Darashaw & Co.