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Bigbloc Construction allots 5 lakh convertible warrants to Promoter Group

Thursday, June 21, 2018

The Promoters of NSE/BSE listed Bigbloc Construction Ltd. have in a letter issued to BSE and NSE announced the allotment of 500,000 Convertible warrants on preferential allotment basis to the Promoter Group at an issue price of Rs. 180 per warrant on preferential basis.

The company is looking at increasing the shareholding by 10% (i.e 1.5 lakh shares) through open market, according to sources. The Company has announced excellent results alongwith a rise in Earning Per Share of about 25%. Company has also declared dividend (YOY) and this financial quarter might announce bonus, according to market circles.

Bigbloc has a state of art, ultra modern, environment friendly manufacturing facilities at Gujarat, using fly ash as raw material, since they not only consume less energy in manufacturing but also, help to save the recurring cost of electricity and also earn Carbon Credits. The market share of AAC BLOCKS is only 6% as against 90% share of Conventional Bricks which are banned in several markets. With this shift to AAC by leading construction companies, share of AAC is poised for upward move substantially.

Bigbloc has got reputed clients like Lodha, HDIL, Kanakia, Raheja, Mahindra, Larsen & Tourbo, Shapoorji Pallonji, etc.

According to sources, government is planning to hike Truck Axle load by 20–25%. This will increase the Profitability of the Company by 20% as Transport & Distribution being the major cost of the product around (30-35%).

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