Mumbai-based infrastructure firm, Roman Tarmat Ltd, will invest around Rs 20 crore for diversifying into bridges and flyovers. Roman Tarmat is presently engaged in building highways, runways and other civil works. | |
| The company has a single project with the Karnataka government for constructing a bridge near Belgaum. However, Jerry Varghese, Managing Director, Roman Tarmat is hopeful to get more contracts in near future for bridges and flyovers. |
| |
| "We have a Rs 10 crore bridge job at hand for the Karnataka state government as part of developing a Rs 75 crore state highway project near Belgaum. But since we are a Mumbai-based company, we would next explore opportunities of bridges and flyovers there and then move on to other states," said Varghese. |
| |
| According to Varghese, Roman Tarmat has an order book of Rs 350 crore, of which Rs 100 crore is for runways and the rest for highways. |
| |
| "We are also trying to get another Rs 250 crore worth of orders in 2007-08 for airport works and highways," added Varghese. |
| |
| Roman Tarmat is the first company to have received an order and to have begun work on a Bus Rapid Transport System (BRTS) in the country. |
| |
| It is building a BRTS for Ahmedabad Municipal Corporation on the 132 feet ring road at a project cost of Rs 85 crore. "We expect the work on Phase-I to be completed in one year after the rains," said Varghese, on the project. |
| |
| Meanwhile, the company is entering the capital market with an initial public offer (IPO) of 2.9 million equity shares of Rs 10 each for a price band between Rs 150 and Rs 175 per equity share. The issue, to go through a 100 per cent book building process, will open on June 12, 2007 and will close on June 19, 2007. |
| |
| The company intends to utilise the proceeds of the issue for buying additional capital equipment and for funding long-term working capital requirements. |
| |
|
| |
