Simplex Projects Ends With 47% Premium
Today the equity shares of Kolkata-based integrated infrastructure player Simplex Projects were listed at Rs 323.75 or 75% premium to its issue price of Rs 185 on the BSE.
During the day, the scrip touched an intraday high of 323.75 and low of 266.70. Lastly, the company’s shares closed at Rs 272.05, an increase of 47%.
There were 6,719.672 shares for trading on the BSE counter.
SPL is a supplier of integrated engineering, procurement and building services. The IPO of the company was oversubscribed 84.74 times. The price band for the issue was Rs 170 to Rs 185 per share. The company’s shares were listed on both BSE and NSE.
Simplex Projects chiefly aims to deploy the issue proceeds to expand permanent working capital necessity, acquire plant and machineries and to invest in subsidiary.