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Man Infraconstruction closes with 37.7% premium
Man Infraconstruction remained strong throughout the session despite some profit booking at higher levels in last half an hour of trade. It closed at Rs 347, a premium of 37.7% over its issue price of Rs 252 per share, after seeing day's high of Rs 375 and low of Rs 318, which was the opening price on the NSE.
The 56,25,150 equity shares initial public offering IPO, which opened during February 18-22, was subscribed 60.44 times. The company has raised Rs 141.75 crore from this issue, which would be used for purchase of capital equipment. The price band was at Rs 243-252.
Man Infra provides construction services for port infrastructure, residential, industrial, commercial and road infrastructure projects. As on December 31, 2009, the company's order book, on a consolidated basis, stood at Rs 20,209.25 million spread across the construction sectors.
