Consolidated Construction Consortium Limited — Updates, 25-02-2025: Press Release

Consolidated Construction Consortium Ltd. (CCCL) plans to issue up to 2,85,71,436 equity shares at a price of Rs. 17.50 per share, totaling approximately Rs. 50.00 crore. This preferential allotment aims to attract high-profile investors, including Systematic Conscom Ltd., enhancing CCCL's financial stability and operational flexibility amidst ongoing challenges. The capital raised is a strategic move to support the company's turnaround efforts, enhancing its capability to tackle complex projects and align with medium-to-long term growth objectives. Chairman R. Sarabeswar expressed gratitude for investor confidence, emphasizing the potential impact this investment could have on CCCL's recovery path. This initiative is pending necessary shareholder approvals.