BGR Energy seen listing at 50-60% premium

MUMBAI: BGR Energy Systems Ltd is seen yielding handsome gains to its investors when it lists on Thursday. Analysts expect the stock to list at 50-60 per cent premium to the issue price of Rs 480.

The company had entered the capital market with a public issue of 91.36 lakh shares of Rs 10 each in the price band Rs 425-480 per share. The issue was subscribed 119.54 times, according to data available on NSE website.

BGR Energy is a supplier of systems and equipment for the power, oil & gas, refinery, petrochemical and process industries.

“There’s lot of activity taking place in the energy sector. BGR Energy will show good growth in 2-3 years on the back of macro economic factors. We are expecting it to list at a premium of 50-60 per cent,” said, Mukul Jain, power sector analyst at Prabhudas Lilladher.

Another sector analyst expects BGR Energy to list around Rs 792-816.