Kridhan Infra soars 17% on FPI buying
On Monday, December 18, 2017, Government of Singapore acquired 895,058 equity shares representing or 1.2% stake in Kridhan Infra at price of Rs 92 per share on the BSE
 "Kridhan Infra soars 17% on FPI buying")
premium
Kridhan Infra soared 17% to Rs 117 on the BSE in noon deal after the foreign portfolio investor (FPI) bought the stake in the company through open market.
The trading volumes on the counter more than doubled with a combined 6.24 million shares changed hands on the BSE and NSE till 12:17 PM.
On Monday, December 18, 2017, Government of Singapore acquired 895,058 equity shares representing or 1.2% stake in Kridhan Infra at price of Rs 92 per share on the BSE, bulk deal data shows.
Mustray Impex and Services Private Limited had sold more than half or 2 million shares (2.7% stake) in the construction & engineering company at Rs 92.21 per share, data shows.
According to shareholding pattern as of September 30, 2017, Mustray Impex and Services Private Limited held 3 million shares or 4.05% stake in the company.
The name of the other buyers not immediately ascertained.
Kridhan Infra sees significant revenue increase of over two times and maintaining 13%-14% Ebitda (earnings before interest, taxes, depreciation and amortization) margin in FY19.
India EPC business to contribute more than 50% of the FY19 revenue, also from Vijay Nirman Construction Company (VNC), which have strong order book of over Rs 2,600 crore. The significant pick-up in Singapore EPC business as Swee Hong bids for new projects, the company said in investor presentation.
The trading volumes on the counter more than doubled with a combined 6.24 million shares changed hands on the BSE and NSE till 12:17 PM.
On Monday, December 18, 2017, Government of Singapore acquired 895,058 equity shares representing or 1.2% stake in Kridhan Infra at price of Rs 92 per share on the BSE, bulk deal data shows.
Mustray Impex and Services Private Limited had sold more than half or 2 million shares (2.7% stake) in the construction & engineering company at Rs 92.21 per share, data shows.
According to shareholding pattern as of September 30, 2017, Mustray Impex and Services Private Limited held 3 million shares or 4.05% stake in the company.
The name of the other buyers not immediately ascertained.
Kridhan Infra sees significant revenue increase of over two times and maintaining 13%-14% Ebitda (earnings before interest, taxes, depreciation and amortization) margin in FY19.
India EPC business to contribute more than 50% of the FY19 revenue, also from Vijay Nirman Construction Company (VNC), which have strong order book of over Rs 2,600 crore. The significant pick-up in Singapore EPC business as Swee Hong bids for new projects, the company said in investor presentation.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%