Sadbhav Infrastructrure Projects (SIPL) shares made a robust debut on stock exchanges on Wednesday. The share price of the company listed at Rs 110.75 on BSE as compared to its issue price of Rs 103. It listed at Rs 111 on NSE.
At 10.16 am, shares of the SIPL were trading 7.28 per cent higher at Rs 110.50 apiece on BSE as compared with its issue price of Rs 103. It opened at Rs 110.75 and touched a high and low of Rs 112.25 and Rs 108.60, in trade so far.
The scrip closed at Rs 106.15 on Wednesday.
The company’s IPO closed on September 2, 2015 and was subscribed 2.43 times.
SIPL is a subsidiary of Ahmedabad-based Sadbhav Engineering. SIPL was incorporated in 2007 as a roads and highways operator.