IL&FS Transportation Networks today listed at Rs 287 on the Bombay Stock Exchange, a gain of 11.24 per cent over its issue price.
Shares of IL&FS Transportation Networks later surged by 14.34 per cent to Rs 295 over its issue price of Rs 258 per share.
On the National Stock Exchange, the stock listed up by 3.35 per cent at Rs 266.60.
The company has listed with 19.42 crore shares on the bourses. In the early morning trade, a total of 63.03 lakh shares of IL&FS Transportation Networks changed hands on both the bourses.
It has proposed to utilise net proceeds of Rs 700 crore raised through its initial public offer (IPO) for repayment of loans and to fund expansion plans. The firm is in the process of developing road, power and renewable energy projects.