Bangalore-based real estate firm Samruddhi Realty today gained nearly 14% on its trading debut on the BSE SME platform. Shares of the company closed at Rs 13.65, up Rs 1.65, or 13.75 % compared to its issue price of Rs 12 per share.
The company had raised Rs 26 crore through an initial public offering (IPO), which was open for subscription between March 28 and April 3.
The stock today opened at Rs 13, while moved in the range between Rs 12.75 and Rs 13.65.
Samruddhi Realty has executed projects at different locations in the Bangalore and plans to take up projects in cities such as New Delhi, Chennai, Pune, Ahmedabad and Hyderabad.
The company’s total revenue stood at Rs 12.56 crore and net profit at Rs 40 lakh in 201-12 . For the the first half of 2012-13, its total revenue was Rs 9.87 crore and net profit was Rs 58.8 lakh.
