Shares of Mumbai-based real estate developer Jet Infraventure Ltd today got listed on BSE's SME Exchange.
The share was listed at a premium of 4 per cent at Rs 130 on an issue price of Rs 125, a company statement said here today.
Jet Infraventure raised Rs 4.50 crore. The company allotted 3,60,000 equity shares of Rs 10 each fully paid at Rs 125 per share (including a premium of Rs 115 per share), the statement said.
Money raised through the initial public offering are to be utilised for working its capital requirements, repaying certain unsecured loans availed by the company, general corporate purposes and issue expenses, the statement said.
Jet Infraventure is engaged in real estate business and develops residential projects at affordable prices. The company has executed projects in the states of Maharashtra and Gujarat.
Pantomath Capital Advisors (P) Ltd, a SEBI registered Category I merchant banker lead managed Jet Infraventure's initial public offering, the statement said.
