Pratham EPC Projects makes stellar debut on NSE, shares list at 51% premium to IPO price
Upstox
3 min read • Updated: March 18, 2024, 11:58 AM
Summary
Pratham EPC listing price update: Pratham EPC Projects shares were in demand after listing as the stock moved further 4% to hit a high of ₹118.95 apiece on NSE. The market capitalisation of the company was around 211 crore, which shows investors gained around ₹78 crore from the issue price.
Pratham EPC listing price update: Making a stellar debut on the stock exchanges, Pratham EPC Projects Ltd shares listed at a premium of 51% to the issue price on Monday.
The oil and gas pipeline infrastructure provider was listed at ₹113.30 per share against the issue price of ₹75 per share on the NSE Emerge platform, reflecting an impressive premium of 51%.
According to the stock exchange data, nearly 23 lakh shares of the company changed hands in the first 20 minutes of trade. The traded value stood at over ₹26 crore.
The market capitalisation of the company was around ₹211 crore, which shows investors gained around ₹78 crore from the issue price.
Pratham EPC Projects shares were in demand as the stock moved further 4% to hit a high of ₹118.95.
The stock was up 4.15% at ₹118 per share at 10.15 AM.
Pratham EPC Projects Ltd IPO
Oil and gas infrastructure provider Pratham EPC Projects Ltd raised ₹36 crore from public investors through its initial public offerings.
The public offer opened for subscription on March 11 and bidding closed on March 13. The company finalised share allotment on March 14.
At the close of the bidding on March 13, the public issue that comprised a fresh issue of 48 lakh equity shares was subscribed a whopping 178 times.
According to exchange data, applications for 57,01,90,400 equity shares worth ₹4,276.43 crore were received against 31.93 lakh shares on offer.
The qualified institutional buyers category was subscribed 70.28 times receiving bids for 6.4 crore shares. Non-Institutional Buyers’ portion was subscribed 320 times and the retail investors’ portion by 179 times at close on March 13.
According to exchange data, the company raised around ₹10.24 crore from anchor investors by allotting 13.66 lakh shares at a price of ₹75 per share.
The company has mentioned that it will utilise around ₹8.83 crore of the IPO proceeds to finance the purchase of machinery. The company looks to buy modern machinery from manufacturers and continue with the strategy of placing minimum reliance on hired or leased machinery.
About Pratham EPC Projects
Founded in 2014, Pratham EPC Projects is a leading oil and gas pipeline infrastructure service provider. It focuses on constructing pipeline networks, and associated facilities. Pratham also provides operations & maintenance services to city gas distributors in India.
Pratham EPC Projects is an integrated EPC company which offers a range of services to the oil and gas industry. The company specialises in pipeline projects for various applications, turnkey pipeline laying projects that include engineering, procurement, construction and horizontal directional drilling.
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