Commercial Engineers and Body Builders Company(CEBBCO) : Planning an IPO soon

by khalid on 11/07/2010 · 0 comments

Kanpur-based Commercial Engineers and Body Builders Company (CEBBCO) has announced an IPO of Rs. 170 crore for the purpose of raising funds from the primary market in order to set up a wagon manufacturing facility in Jamshedpur. The comapny makes bodies for commercial vehicles and currently has three facilities in Jabalpur and is setting up one in Jamshedpur to make bodies for tankers, tippers and trailers. It has been supplying truck bodies to Tata Motors, Ashok Leyland and Volvo Eicher and the combined capacity of its plants is estimated to be 2000 units a month.

At present, 77 per cent stake in the company is held by the promoters and New York Life International India Fund holds the rest 23 per cent. Post IPO, the promoters will hold 51 per cent and New York Life will hold 20 per cent stakein the company.

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