Construction company, Capacite Infraprojects has made a stellar debut on the bourses amidst the weak market. The stock got listed on BSE at Rs 399 per share, up by 59.6% as against its issue price of Rs 250 per share.
The company’s Rs 400 crore initial public offering had oversubscribed 183.03 times. The IPO had received bids for 209.17 crore equity shares against total issue size of 1.14 crore shares (excluding anchor investors' portion), aided largely by institutional investors.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 131.32 times, non-institutional investors 638.05 times and retail investors 17.57 times.
Capacit'e Infraprojects has raised Rs 120 crore from anchor investors before subscription of IPO. The company will utilise issue proceeds for funding working capital requirements, purchase of capital assets and general corporate purposes.
The issue was open for subscription during September 13 to September 15, with a price band of Rs 245-250 per share.
Capacit'e Infraprojects’ consolidated revenue from operations increased sharply from Rs 214.26 crore in FY14 to Rs 1,157 crore in FY17. As of May 2017, company has total order book of Rs 4,602.48 crore under residential, commercial and institutional segments.
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