Bangalore: Prakash Constrowell Limited, a construction company predominantly engaged in the business of infrastructure development and civil construction, has fixed a Price Band of Rs 130 to Rs 138 per equity share of Rs 10 each and Bid lot of 50 Equity Shares for its proposed public issue of equity shares of Rs 60 crore opening on Monday, 19th September, 2011. This 100 percent book building Issue closes on 21st September 2011. Intensive Fiscal Services Pvt. Ltd. is the sole Book Running Lead Manager to the Issue. The Issue has been graded by CARE as ``CARE IPO Grade 2’’ indicating below average fundamentals. The equity shares of the Company are proposed to be listed on the Bombay Stock Exchange (“BSE”) and National Stock Exchange of India Ltd. (“NSE”). The Company, incorporated on January 4, 1996 as a private limited company and converted into public limited company on January 5, 2011, is promoted by Mr. Prakash P. Laddha and Mrs. Aruna P. Laddha. The Company, registered as Class 1A contractor with the Public Works Department of Maharashtra Government, has over fifteen years of experience in the construction industry and has executed many projects for the government and semi-government agencies. As of June 30, 2011, its order book, was Rs 150.81 crore and is spread across the construction sectors in which it operates. Some of the strengths of the Company include experienced management, successful completion of number of projects awarded by government and semi-government bodies, successful completion of Build, Operate & Transfer (“BOT”) project by way of Public-Private Partnership (“PPP”) model, diverse order book, integrated business model, track record of timely completion of projects and continuous growth in bid capacity and pre-qualification. The Company’s income from operations on a consolidated basis as per the restated financials has grown from Rs 26.40 crore in the year 2007-08 to Rs 126.91 crore in the year 2010-11 exhibiting a compounded annual growth rate of 68.77 % over the period of past four financial years. Its profit after tax on a consolidated basis as per the restated financials has grown from Rs 3.06 crore in the year 2007-08 to Rs 10.65 crore in the year 2010-11 exhibiting a compounded annual growth rate of 51.47 percent over the period of past four financial years. The Company proposes to utilize the net proceeds of the Issue to meet working capital requirement, investment in construction equipments and investment in subsidiaries in addition to meet the general corporate purposes and public issue expenses.