Savy Infra and Logistics shares listed on the Emerge platform of the National Stock Exchange (NSE) on Monday at a premium of nearly 14 percent, following a 106.53 times subscription to it's Rs 70-crore issue in the primary market between July 21 - 23.
Shares of Savy Infra and Logistics listed at Rs 136.50 per share on the NSE SME, a premium of 13.75 precent from it's IPO price. The company's total market capitalization post listing of the shares of the company stood at Rs 294.75 crore.
The listing of the shares of the company on the stock exchanges on July 28 was below than the expectations in the grey market, which had price in about 20 percent listing gains.
Savy Infra and Logistics that focusses on earthwork and foundation preparation for infrastructure projects such as road construction, embankments, sub-grade preparation, granular sub-bases, and bituminous or concrete surfaces is set to utilise Rs 49 crore out of the IPO proceeds for working capital requirements, and the remainder funds for general corporate purposes.
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