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  1. Capacit’e Infraprojects makes stellar debut; shares gain nearly 60% post listing

Capacit’e Infraprojects makes stellar debut; shares gain nearly 60% post listing

Construction firm Capacit'e Infraprojects made a stellar market debut on Monday after receiving an overwhelming response on its IPO last week. The company gained 59.6% at Rs 399 per share on the exchanges in the opening trade.

By: | Updated: September 25, 2017 10:44 AM
Capacit'e Infraprojects, NSE, ipo, IIFL Holdings , Axis Capital, Vivro Financial Services, BSE, SHARE OF Capacit'e Infraprojects Construction firm Capacit’e Infraprojects made a stellar market debut on Monday. (Reuters)

Construction firm Capacit’e Infraprojects made a stellar market debut on Monday after receiving an overwhelming response on its IPO last week. The company gained 59.6% at Rs 399 per share on the exchanges in the opening trade.

Capacit’e Infraprojects’ Rs 400-crore initial public offer (IPO) received an overwhelming response and was oversubscribed 183.03 times during September 13-15. Of the Rs 400-crore IPO, the company will use Rs 250 cr as long-term working capital, Capacit’e Infraprojects told CNBC-TV18.

After company’s stock demand rose post-listing early morning on Monday, the company said it is looking forward at select govt projects like NBCC to bid for in the future. Qualified institutional buyers (QIBs) portion was
oversubscribed 131.32 times, non-institutional investors a staggering 638.05 times and retail investors 17.57 times.
The price band for the offer was fixed at Rs 245-250 per share.

Capacit’e Infraprojects, which raised Rs 120 crore from anchor investors, will utilise issue proceeds for funding working capital requirements, purchase of capital assets and general corporate purposes. Axis Capital, IIFL Holdings and Vivro Financial Services were the book running lead managers to the issue. The shares are proposed to be listed on BSE and National Stock Exchange.

Business profile

Capacit’e Infraprojects’ is a Mumbai based construction company incorporated in August 2012. The company is focused on Residential, Commercial and Institutional buildings in metro cities across India. Capacit’e Infraprojects’ provide end-to-end construction services for residential buildings, multi level car parking, corporate office buildings and buildings for educational, hospitality and healthcare purposes.

Financials

Capacit’e Infraprojects’ reported a rise of 45% in the consolidated net profit for the financial year ended 31 March 2017 to Rs 69.31 crore. The company had posted a net profit of Rs 47.68 crore in the last financial year.

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