The initial public offering (IPO) of Capacit’e Infraprojects was subscribed 186.48 times on Friday with investors bidding for 208.85 crore shares of the 1.12 crore shares on offer as of 7 pm on the concluding day of the offer. The qualified institutional buyers bid 42.87 crore shares of the 32 lakh shares reserved for them, bidding 134 times. High Net worth Individuals (HNIs) bid for 156.25 crore shares of the 24 lakh shares reserved for them bidding 651 times. Retail investors bid for 9.71 crore shares of 56 lakh shares reserved for them, 17.35 times.
On Tuesday, Capacit’e Infraprojects allotted 48 lakh equity shares at Rs 250 aggregating to Rs 120 crore to 15 anchor investors. DSP Blackrock India, Goldman Sachs, HSBC Global Investment Funds, ICICI Prudential Growth Fund and SBI Infrastructure Fund were among the investors who were allotted shares.
Capacit’e Infraprojects Limited, a Mumbai-based construction company had priced its initial public offering (IPO), aimed at raising up to Rs 400 crore, between Rs 245 to Rs 250 per equity share. The IPO was a fresh issue of shares worth Rs 400 crore.
The company proposes to utilize the net proceeds of the issue for funding working capital requirements, funding purchase of capital assets and general corporate purposes.
Capacit’e provides construction services for residential buildings, multi-level car parks, corporate office buildings and buildings for commercial purposes and buildings for educational, hospitality and healthcare purposes. The company offers like construction of concrete building structures as well as composite steel structures.
Capacit’e also provides mechanical, electrical and plumbing (MEP) and finishing work. CIL predominantly operates in the Mumbai metropolitan region (MMR), the National Capital Region (NCR) and Bengaluru.
In 2017, companies raised Rs 16,254 crore through IPOs. Listing gains and returns by newly listed companies as also the positive sentiment in the broader market are among the reasons attributed to the trend. The BSE IPO index rose by 44.7% in 2017 so far, against Sensex’s gain of 21% during the same time.
BSE, HUDCO, CDSL, Avenue Supermarts, Shankara Building Products, S Chand and Company, and Cochin Shipyard are some of the companies who completed their IPOs in the last eight months.