Niraj Cement Structurals Limited, an engineering and construction company focussing on road construction development, will make entry into the capital market on May 26, 2008 with a public issue of 3.25 million equity shares of Rs 10 each through a 100% book-building process.

The issue will open on May 26 and will close on May 30. The price band has been fixed at Rs 175 to Rs 190 per share. The Issue would comprise 31.42% of the company’s total post issue paid-up equity capital.

The company’s equity shares are proposed to be listed on Bombay Stock Exchange of India (BSE). Allbank Finance is assisting the company in the process of lifting funds from the capital market.

The income from the proposed issue of shares are intended to be deployed for making investment in capital equipment, funding long term working capital requirements, general corporate purposes and meeting up the issue expenses.

Besides, the company has also decided to bid for road related infrastructure projects-leveraging and building the specialization and thereby entering in more states and region and gaining access to more complex projects.

The present areas of company’s operations include road construction and other infrastructure related works including providing EPC services. The company’s total turnover for FY08 stood at Rs 928.6 million and profit after tax (PAT) at Rs 65.2 million.