KNR Constructions, an infrastructure project development company, will list on the bourses with its equity shares on Monday, February 18, 2008. Experts believe that the company had received mild response to its issue and the market has not stabilised yet, so the stock is likely to list below its issue price.
R S Iyer of K R Choksey Securities says, "KNR Constructions is expected to list around Rs 160-170 and will trade in the range of Rs 150-170 through the day. One can exit the stock above Rs 190."
"KNR Constructions is likely to list at Rs 160 against issue price of Rs 170 per share. Exit from the stock upto Rs 150 and move to peers available much cheaper", Investment Advisor, S P Tulsian said.
It has been fixed the issue price at Rs 170 per equity share for its initial public offering of 7,874,570 equity shares of Rs 10 each for cash at a price determined through a 100% book-building process. The issue got subscribed 1.25 times.
The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange of India.
Source: Moneycontrol.com
Saturday, February 16, 2008
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