Mason Infratech list at 37% premium at ₹88 per share on NSE SME

According to the exchange data, shares of the real estate construction company started trading at ₹88 per piece against the issue price of ₹64 apiece, reflecting gains of 37% over the issue price.

After listing, the stock rose further by 5% to hit a high of ₹92.40 per share on the NSE SME platform on string buying by investors, reflecting gains of 44% from the issue price. It hit a low of ₹83.6 apiece in the first five minutes of trade.

More than 17 lakh shares of the company changed hands on the NSE Emerge. The traded value was ₹15.54 crore while the market valuation stood at ₹162.37 crore.

The real estate construction company launched its initial public offering on June 24 to raise ₹30.46 crore from public investors. The IPO, which comprised a fresh issue of 47.6 lakh shares, closed for bidding on June 26.

The IPO price band was fixed at ₹62 to ₹64 per share. The minimum lot size was 2000 shares. The company had set aside 50% of the net issue size for retail investors and the rest for non-retail investors.

According to exchange data, the Mason Infratech Ltd IPO was booked nearly 33 times. Applications for 10.42 crore shares worth ₹666.93 crore were received against 31.68 lakh shares on offer for subscription.

The retail individual investors’ portion was booked more than 36 times. RIIs placed bids for 5.79 crore shares against 15.84 lakh shares on offer for subscription.

Non-institutional investors’ portion was booked around 50 times as applications for 3.43 crore shares were received against 6.80 lakh shares on offer.

The qualified institutional buyers’ (QIBs) quota was booked around 13.40 times. QIBs placed bids for 1.21 crore shares against 9.04 lakh shares on offer for bidding.

The company has proposed to utilise ₹19 crore of the IPO proceeds to meet the working capital requirements.

Mason Infratech is a real estate construction firm that offers end-to-end construction services for residential and commercial buildings in new and redevelopment projects. The company's projects are mainly in the Mumbai Metropolitan Area.

Mason Infratech reported revenue from operations of ₹56.91 crore for the April-December period of 2023-24. The profit after tax for the period was ₹5.09 crore.

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