The shares of Man Infraconstruction today listed at almost 38 per cent premium to the issue price of Rs 252. The shares of the company closed the day at Rs 347 on the National Stock Exchange (NSE) after touching an intra-day high of Rs 375.
On the Bombay Stock Exchange (BSE), the stock closed the day at Rs 348. The company’s over 4.65-million-share initial public offer was subscribed 62.33 times. The issue was priced at Rs 243-252 per share. The counter generated a combined turnover of over Rs 1,332 crore on both NSE and BSE.
Just before the opening of the IPO on February 18, the company received commitments of Rs 24.50 crore from anchor investors, who subscribed to 0.97 million equity shares at Rs 252 a unit. The anchor investors included Nomura Asset Management Singapore, Reliance Mutual Fund, Legg Mason Asian Enterprise Trust, Monsoon India Inflection Fund, Axis Mutual Fund and India Diversified (Mauritius).
Man Infra provides construction services for building ports and roads, besides undertaking residential, industrial and commercial projects.
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