Roman Tarmat debuts with gain of Rs 120

Roman Tarmat Ltd.Today, the shares of Mumbai-based construction company Roman Tarmat listed (July 9) on the NSE and the BSE.

Shares of the company opened up at a premium of Rs 120.00, or 68.57%, at Rs 295.00, greater than the issue price of Rs 175.00, at the Bombay Stock Exchange. The overall volume of shares traded was 1,667,036.

The company emerged with a public issue in order to raise funds mostly to invest in capital equipments and to congregate its long-standing capital requirements.

The company fixed the price band between Rs 150- 175 per share, of face value of Rs 10 each. The IPO got a hopeful reaction; it oversubscribed 29 times.

Set up in 1986, Roman Tarmat is a Mumbai-based infrastructure company constructing highways, runways and other civil work. The company is headquartered in Mumbai with functioning spread all over the states of Maharashtra, Tamil Nadu, Karnataka, Kerala, Mizoram, Gujarat and Delhi.

It provides engineering, procurement and construction services for infrastructure projects sponsored by government/government agencies. Its business actions can be categorized into three different segments including airside works; highways and roads; and other civil work.