Gammon Infra IPO priced at Rs 167/share

Gammon Infrastructure Projects has priced its initial public offering (IPO) at Rs 167 per share - the lower end of the offer price band of Rs 167-200 per share.

The company will raise Rs 276 crore from the 16.55 million share offer. The company will use the funds for investment in several projects, repaying debt and acquisitions.

Gammon Infra is 82.5% owned by construction firm Gammon India.