Kaushalya Infra posts 37 pc gain in debut trade

MUMBAI: Kaushalya Infrastructure Development Corporation (KIDCO) on Friday witnessed a robust response from investors, with its shares closing at a 37 per cent premium in debut trade on the Bombay Stock Exchange.

The scrip closed at Rs 82.25, up by Rs 22.25 or 37.08 per cent against the issue price of Rs 60. It had touched an intra-day high of Rs 84.20 after opening at Rs 67.90.

Over 3.21 crore shares changed hands on the bourse. On the National Stock Exchange, the scrip closed at Rs 82.45 and touched a high of Rs 84.80. A total of 3.84 crore shares were traded on NSE.

The Kolkata-based company got listed with 1,96,05,630 shares.

The company would utilised the funds for acquisition of land and on implementation of other projects.

The company operates townships, offices, houses and other buildings, urban infrastructure, highways, roads, power systems, irrigation, dams and agriculture systems.