Supreme Infrastructure, an infrastructure development company, listed on the National Stock Exchange (NSE) at Rs 187.50, a premium of 74% as against offer price of Rs 108 per share.The scrip soared to a high of Rs 220 in the first few minutes of trade, as the markets opened firm. Over 22 lakh shares of Supreme Infra changed hands at the NSE. At 1015 hrs, the shares were quoting at Rs 191 per share.The company had come out with an initial public offer (IPO) of 34.75 lakh shares, priced in a band of Rs 95 to Rs 108 a share. Overall the issue was subscribed around 53 times.The proceeds of the proposed IPO are to part-finance its expansion plans, mainly for adding capacities in its RMC plants and meeting its long-term capital requirements. Supreme Infra also plans to foray into the construction contracting activity in the real estate projects.
