Gammon Infrastructure Projects (GIPL), an infrastructure project development company, has opened with a gain of 7.8% or Rs 13 at Rs 180 as against issue price of Rs 167 on the BSE. It has touched a low of Rs 149, which was 10.78% below issue price.
At 9:58 am, the share was trading at Rs 157, down 6%, with volumes of 4,68,033 shares.
On the NSE, the stock opened at Rs 170, and hit a high/low of Rs 185 and Rs 148.10, respectively. It was trading with volumes of 4,67,031 shares and turnover stood at Rs 7.28 crore.
The company had entered capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each. The issue had subscribed 3.48 times.
GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
Source: Moneycontrol.com
Thursday, April 3, 2008
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