After receiving good response to the initial public offering, Kaushalya Infrastructure Development Corporation will list on the bourses on December 14, 2007. The issue price has been fixed at Rs 60 per share.
Analysts told Moneycontrol.com that the stock may list at around Rs 65-70 and advised to book profits above Rs 70.
"Kaushalya Infrastructure is likely to list at Rs 68 on Friday against its issue price of Rs 60", Investment advisor, S P Tulsian said.
R S Iyer of K R Choksey Securities said, "The stock is expected to list at around Rs 70. Above Rs 70, one can book profits."
The company had entered capital market with a public issue of 85 lakh shares of Rs 10 each at a price band of Rs 50 and Rs 60. The equity shares are proposed to be listed on the BSE and NSE.
The company would use the proceeds from the issue to fund land acquisition, land development rights and real estate development, investment in BOT/BOOT projects for joint ventures, and purchase of capital and infrastructure equipment for the execution of projects.
SREI Capital Markets is the lead manager of the issue and Intime Spectrum Registry the registrar.
Source: Moneycontrol.com
Thursday, December 13, 2007
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