Hindustan Construction Company today said it has decided to list its subsidiary Lavasa Corporation to raise Rs 750 crore.
"Lavasa Corporation, a subsidiary of Hindustan Construction Company, has filed its draft red-herring prospectus with Sebi today to go in for an initial public offering of its equity shares of Rs 10 each aggregating to Rs 750 crore," the company said in a filing to the BSE.
The issue is subject to receipt of requisite regulatory approvals, market conditions and other considerations, it said.
In FY14, Lavasa registered a turnover of Rs 179.5 crore with a loss of Rs 5.7 crore compared to a loss of Rs 78 crore in FY13.
