IRB Infrastructure closes above issue price

IRB Infrastructure has closed the day at Rs 189.65, which is just above its issue price of Rs 185, up 2.51% or Rs 4.65, with volumes of 2,25,21,617 shares. It touched a high/low of Rs 200 and Rs 168 during the day. The turnover was at Rs 416 crore on the NSE.

In an interview with CNBC-TV18, VD Mhaiskar, CMD of IRB Infrastructre and Developers, said he sees FY09 sales at Rs 1,300 crore and PAT at Rs 310 crore. He sees FY08 sales at Rs 750 crore and PAT at Rs 110 crore. Their current order book at Rs 6,000 crore.

On the BSE, the stock opened at Rs 170.05, and touched a high/low of Rs 209 and Rs 167.30, respectively. It surged 2.19% to close at Rs 189.05, with volumes of 1,60,78,796 shares.

IRB Infrastructure had entered the capital markets on January 31, 2008 with a public issue of 5,10,57,666 equity shares of Rs 10 each through 100% book building process and with a price band of Rs 185 to Rs 220.