 "Sadbhav Infrastructure lists at premium on the NSE")
Shares of Sadbhav Infrastructure Project have listed at Rs 111, an 8% premium against its issue price of Rs 103 per share on the National Stock Exchange (NSE). It has hit a high of Rs 112 and a low of Rs 108 till 10:15 AM.
Sadbhav Infrastructure Project, the subsidiary of Sadbhav Engineering, had raised Rs 425 crore through initial public offer (IPO).
The funds raised through the issue will be utilised for repayment of loans, equity investment and advancing of subordinate debt to its subsidiary Shreenathji Udaipur Tollway Pvt. Ltd (SUTPL) and part-financing of the SUTPL project.
The company specialises in the development, operation and maintenance of highways, roads and related projects.
Sadbhav Infrastructure Project, the subsidiary of Sadbhav Engineering, had raised Rs 425 crore through initial public offer (IPO).
The funds raised through the issue will be utilised for repayment of loans, equity investment and advancing of subordinate debt to its subsidiary Shreenathji Udaipur Tollway Pvt. Ltd (SUTPL) and part-financing of the SUTPL project.
The company specialises in the development, operation and maintenance of highways, roads and related projects.