Capacite Infraprojects settles with modest premium

Shares of Capacite Infraprojects settled at Rs 342.40 on BSE, a premium of 36.96% over the initial public offer price of Rs 250 on its debut today, 25 September 2017.

The stock debuted at Rs 399, a premium of 59.6% to the initial public offer (IPO) price. The stock had hit a high of Rs 399 and low of Rs 335.65. On BSE, 34.42 lakh shares were traded on the counter.

Capacite Infraprojects priced the IPO at the top end of the Rs 245 to Rs 250 per share price band. The IPO opened on 13 September 2017 and closed on 15 September 2017. It received bids for 209.17 crore shares. The IPO was subscribed 183.03 times.

The company, through its IPO, raised Rs 400 crore through issue of fresh shares. Of the net proceeds, the company proposes to utilize an amount of Rs 250 crore for funding working capital requirements; an amount of Rs 51.95 crore for funding purchase of capital assets (system formwork); and 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.

Capacite 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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