Thursday, April 3, 2008

Gammon Infrastructure lists at Rs 180

Gammon Infrastructure Projects on Thursday got listed with a premium on the Bombay Stock Exchange. The scrip opened at Rs 180, with a premium of 7.78 per cent over its issue price of Rs 167. It opened at its intra-day high and then slipped to tou ch a low of Rs 149.

The company listed over 14 crore equity shares on the bourses. At the National Stock Exchange, the scrip opened at Rs 170 and touched a high of Rs 185. The scrip was later trading at Rs 153.85 on the BSE and Rs 152.90 on the NSE.

Over 9.72 lakh shares changed hands on both the bourses. The company had raised about Rs 276 crore from its initial public offer, which had generated a demand of over three times the shares on offer. The funds raised through IPO would be utilised for inv estment in projects and meeting working capital requirements, the company said.

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