Capacit'e Infraprojects IPO subscribed 1.30 times on day one

Receives bids for 1.48 crore shares

The initial public offer (IPO) of Capacit'e Infraprojects received bids for 1.48 crore lakh shares on the first day of bidding for the IPO, data on NSE showed as at 18:30 IST. The IPO was subscribed 1.30 times. The price band of the IPO has been fixed at Rs 245 to Rs 250 per share. The IPO opened today, 13 September 2017 and will close on 15 September 2017.

The company through this initial public offering (IPO) is to raise Rs 400 crore through issue of fresh shares. Of the net proceeds, the company proposes to utilize (i) an amount of Rs 250 crore for funding working capital requirements; (ii) an amount of Rs 51.95 crore for funding purchase of capital assets (system formwork); and (iii) balance towards general corporate purposes.

The company's consolidated net profit rose 42.67% to Rs 69.38 crore on 35.6% rise in sales to Rs 1157.04 crore in the year ended 31 March 2017 (FY 2017) over FY 2016.

Capacit'e Infraprojects is a construction company focused on residential, commercial and Institutional buildings. The company provides end-to-end construction services for residential buildings, commercial (multi-level car parks, corporate office buildings and buildings for commercial purposes) buildings and institutional (educational, hospitality and healthcare purposes) buildings.

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