Mumbai: Even as several large and midcap stocks continue to feel the heat and languish in the red on sustained selling pressure amid rising worries about the ongoing spat between the U.S. and North Korea and on some heavy pull-out by foreign investors in recent sessions, Capacit'e Infraprojects has made a strong debut today.
The stock spurted to Rs 399 at the start, and after declining to Rs 335 subsequently, edged higher again and is currently at Rs 358, up 43% from the issue price of Rs 250.
On the National Stock Exchange, the Capacit'e Infraprojects counter has clocked a volume of nearly 14.8 million shares so far in the session. On BSE, the counter has recorded a volume of more than 2.8 million shares till now.
The IPO, which came at a price band of Rs 245 - Rs 250, evoked pretty good response from investors. The offer commenced on 13 September and closed a couple of days later. The issue was subscribed 183 times.
The qualified institutional buyers portion was oversubscribed 131.32 times, non-institutional investors 638.05 times and retail investors 17.57 times.
Prior to the IPO, Capacit'e Infraprojects raised Rs 120 crore from anchor investors. Capacit'e mopped up Rs 400 crore through share issue. The company said thtat it would be spending Rs 250 crore for capital requirements; an amount of Rs 51.95 crore for funding purchase of capital assets and balance towards general corporate purposes.
In the year ended March 2017, Capacite Infraprojects Limited reported consolidated net profit of Rs 69.38 crore, up nearly 43% from a year ago. Sales were up 35.7% at Rs 1157.04 crore. Consolidated revenue from operations increased sharply from Rs 214.26 crore in financial year 2013-14 to Rs 1157 crore in financial year 2016-17. The order book of the company was quite strong, valued at over Rs 4600 as of 31 May 2017.
Capacite Infraprojects Limited 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.
