Material subsidiary Bigbloc Building Elements plans proposed IPO
BIGBLOC · price
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On the reaction day the stock moved 2.1 pts more than Nifty Microcap 250 and 1.5 pts more than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bigbloc Construction said the board of material subsidiary Bigbloc Building Elements Limited approved, in principle, an IPO to raise funds. The issue still needs shareholder, SEBI and stock exchange approvals and depends on market conditions. Size, structure, price and timing remain undecided. BBEL will remain a subsidiary after the IPO.
The IPO may improve BBEL's funding and visibility, but the issue size, price and Bigbloc's resulting ownership stake are not yet known.