Capacit'e Infraprojects share surge 59.6 per cent on its market debut

The Rs400-crore initial public offering of Capacit’e Infraprojects Ltd was oversubscribed 186 times

The Rs400-crore initial public offering of Capacit’e Infraprojects Ltd was oversubscribed 186 times

Shares in the company, which builds residential and commercial buildings, were trading at 363.20 rupees by 0432 GMT, 44.3 percent higher than the listing price of 250 rupees.

The quota reserved for qualified institutional buyers (QIBs) was oversubscribed 131.32 times, those kept aside for non-institutional investors a staggering 638.05 times and the retail investors' portion 17.57 times. On the NSE, it debuted at Rs 399, surging 59.6 per cent.

Proceeds of the issue will be utilised for funding working capital requirements, purchase of capital assets and general corporate purposes.

Axis Capital, IIFL Holdings and Vivro Financial Services were the book running lead managers to the issue. The issue was open for subscription during September 13 to September 15, with a price band of Rs 245-250 per share. Its revenues have grown from Rs 214 crore in FY2014 to Rs 1,157 crore in Rs FY2017 while its net profit catapulted to Rs 70 crore from Rs 4.11 crore during the same period. The IPO was subscribed 183.03 times.

ICICI Securities Ltd had said the firm is in a position to perform better than industry growth, driven by its robust order book, lean balance sheet and strong opportunities ahead. The company provides end-to-end construction services for residential, commercial and institutional buildings. The company provides end-to-end construction services for residential buildings, commercial (multi-level auto parks, corporate office buildings and buildings for commercial purposes) buildings and institutional (educational, hospitality and healthcare purposes) buildings. The company's capabilities include constructing concrete building structures as well as composite steel structures. CIL predominantly operates in Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Bengaluru.

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