Kaushalya Infra lists at 31 % premium

MUMBAI - Shares of Kaushalya Infrastructure Development listed at Rs 79, premium of Rs 19 or 31.66 per cent against issue price of Rs 60 on the National Stock Exchange.

At 10:07 am, the share was up 25.08 percent at Rs 75.05, it touched a high of Rs 79 and a low of Rs 59, on volume of 51,42,793 shares. At 10:05 am on BSE, the share was at Rs 76.30. It touched a high of Rs 77.50 and a low of Rs 63.60. Around 51,24,102 shares were traded in the counter.

The company plans to use Rs 17.50 crore for land acquisition, land development rights and real estate development. It seeks to invest Rs 12 crore in various projects and joint ventures. It plans to keep Rs 5 crore for the buying construction and infrastructure equipments for execution of projects. Kaushalya Infrastructure aims to operate into diversified sectors such as townships, offices, houses and other buildings, urban infrastructure, highways, roads, power systems, irrigation, dams and agriculture systems, etc.