Hindustan Construction Company, HCC one of country's largest builders to revamp Lavasa finances, decide on IPO, Latest Stock Price

Hindustan Construction Company, HCC one of country's largest builders to revamp Lavasa finances, decide on IPO,  Latest Stock Price

Hindustan Construction Company , one of country's largest builders, will revamp the financial structure of its Lavasa arm and decide whether to revive plans for an IPO after the unit won environmental clearance last week to resume construction after a year's delay, its chairman said.
Lavasa, a $31 billion township in the western hills, was ordered to stop construction 12 months ago due to government wrangling over green laws. The delay cost Hindustan Construction $400,000 a day and forced the firm to abandon plans for an initial public offering for the project.

"We must now restructure the whole financial structure of the project," Ajit Gulabchand told Reuters in an interview on Sunday on the sidelines of a World Economic Forum event in Mumbai.
"It's a one-year delay which has added extra costs, so we will have to look at that," he said.

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