IRB Infrastructure Developers Ltd, developers of various infrastructure projects in the road sector through several Special Purpose Vehicles got listed at Rs192 against issue price of Rs185. After initially slipping heavily below its issue price, the scrip constantly gained ground thought out the session.
Finally, the stock ended at Rs189 recording gains of 2% after hitting an intra-day high of Rs200 and a low of Rs168 and recorded volumes of over 2,00,00,000 shares on NSE.
IRB Infrastructure, raised about Rs9.44bn through its IPO last month. IRB Infrastructure offered 51mn equity shares through the IPO, constituting 15.36%of its fully diluted post issue paid-up capital. The issue got subscribed by over four times. The issue price at the lower end of price band of Rs185-220.
Source : www.indiainfoline.com
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