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Capacit'e Infraprojects made a smart debut on the bourses on Monday as the company's shares got listed at Rs 399 apiece, a premium of 59.60 per cent to the issue price.
The stock got listed at Rs 399, reflecting a sharp jump of 59.6 per cent over the issue price on the BSE. On the NSE, it debuted at Rs 399, surging 59.6 per cent.
In terms of equity volume, 26.43 lakh shares of the company were traded on the BSE and over one crore shares changed hands on the NSE during the morning trade.
The company, which concluded its initial share sale over the past fortnight, had fixed the issue price at Rs 250, the upper end of the IPO price band at Rs 245-250 per share.
The real estate construction company, which concluded its initial share sale over the past fortnight, has fixed a price band of Rs 245–250 per share for its Rs 400-crore IPO.
The company’s Rs 400 crore public offer received overwhelming response and was oversubscribed 183.03 times during September 13-15.
The quota reserved for qualified institutional buyers (QIBs) was oversubscribed 131.32 times, while those reserved for non-institutional investors 638.05 times and the retail investors’ portion 17.57 times.
The company proposes to utilise the net proceeds for funding working capital requirements, purchase of capital assets (system formwork) and general corporate purposes.
Axis Capital, IIFL Holdings and Vivro Financial Services were the book-running lead managers to the issue and Karvy Computershare Private was the registrar.
This five-year-old company promoted by first-generation entrepreneurs provides end-to-end construction services for residential buildings, multi-level car parks, corporate offices and more.
As of May 31, 2017, the company had an order book of ₹4,602 crore — which was about four times the sales of 2016-17. About 90 per cent of the order value was for residential construction, while the rest was mostly for commercial construction.
The company clocked sales of ₹1,157 crore during 2016-17; up 40 per cent over the previous year. In the last three years, its revenue has grown at a compounded annual growth of 75 per cent. Its net profit was ₹167 crore in 2016-17, up by 45 per cent as compared to the previous year.
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