Consolidated Const debuts with 57% premium
Consolidated Construction Consortium made an impressive debut on the bourses at Rs 801 with a premium of 57 per cent against issue price of Rs 510 on BSE.
By INDIATIMES NEWS NETWORK |
MUMBAI: Consolidated Construction Consortium made an impressive debut on the bourses at Rs 801 with a premium of 57 per cent against issue price of Rs 510 on BSE.
At 10 am, the stock was at Rs 773.25, up 51 per cent. It touched a high of Rs 825.25 and low of Rs 770 on BSE in trade so far. On NSE, the stock opened at Rs 889, and then slipped to Rs 777.
The initial public offering of Consolidated Construction Consortium Ltd (CCCL), a provider of integrated construction services in the industrial, commercial, infrastructure and residential sectors, got subscribed 80.36 times on the last day of its IPO.
The qualified institutional buyers portion was subscribed 13.76 times, the non-institutional portion was subscribed 0.036 times and the retail portion was subscribed 0.34 times.
The company has raised Rs 188.70 crore from the issue at price of Rs 510 per share, at the higher end of price band. The company will use this money to finance the acquisition of construction infrastructure, investment in subsidiaries, expenditures towards skill and management development centre, repayment of loans and expenditure for general corporate purposes.
At 10 am, the stock was at Rs 773.25, up 51 per cent. It touched a high of Rs 825.25 and low of Rs 770 on BSE in trade so far. On NSE, the stock opened at Rs 889, and then slipped to Rs 777.
The initial public offering of Consolidated Construction Consortium Ltd (CCCL), a provider of integrated construction services in the industrial, commercial, infrastructure and residential sectors, got subscribed 80.36 times on the last day of its IPO.
The qualified institutional buyers portion was subscribed 13.76 times, the non-institutional portion was subscribed 0.036 times and the retail portion was subscribed 0.34 times.
The company has raised Rs 188.70 crore from the issue at price of Rs 510 per share, at the higher end of price band. The company will use this money to finance the acquisition of construction infrastructure, investment in subsidiaries, expenditures towards skill and management development centre, repayment of loans and expenditure for general corporate purposes.
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