Shares of Capacit'e Infraprojects, a Mumbai-based construction company, made blockbuster debut on exchanges today even in a weak market. Its shares surged as much as 49 per cent to Rs 373 compared to its issue price of Rs 250. Capacit'e Infraprojects' Rs 400 crore initial public offer (IPO), which ended on September 15, has been the most subscribed issue of this year. The IPO was subscribed 186 times led by strong demand from non-institutional investors, who bid for 651 times the shares that were reserved for them. The portion reserved for Institutional investors was also subscribed 134 times.
Capacit'e Infraprojects has a track record of timely project execution and an order book of Rs. 4,600 crore, which gives revenue visibility, say analysts.
Capacit'e Infraprojects will use the proceeds from the IPO for funding working capital requirements and for purchase of some capital assets.
Incorporated in 2012, Capacit'e Infraprojects provides construction services for high rise and super rise buildings, gated communities, commercial and official complexes, institutional buildings and multilevel car parks. Its top clients include Kalpataru, Oberoi Realty, Godrej Properties and Prestige Estates Projects.
Capacit'e Infraprojects' shares closed 37.02 per cent higher at Rs 342.55 compared to 0.92 per cent decline in the broader Nifty.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on ndtv.com/elections. Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.