NBCC (India) Ltd.

National Buildings Construction Corporation (NBCC) has withdrawn the proposal to raise Rs 1,000 crore through Follow-on Public Offer (FPO). This step has been taken as the company doesn’t require money right now for its business operations.

Last year in May, NBCC’s board had approved the FPO of 10 percent of the post issue equity share capital for augmenting the company’s resources to fund business development plans.

NBCC is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.