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Sadbhav Infra makes positive market debut

By Bhawna Gupta

  • 16 Sep 2015
Sadbhav Infra makes positive market debut
Credit: Sadbhav Infrastructure Project Ltd.

Sadbhav Infrastructure, an infrastructure sector player primarily involved in the development of highways and road projects, listed at a 7.5 per cent premium to its issue price of Rs 103 a share.

It was trading at Rs 108.05 a share, 4.9 per cent above the issue price at 1 PM on BSE in a strong Mumbai market on Wednesday.

The company concluded the IPO early this month; IPO was oversubscribed 20 per cent.

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It raised around Rs 491 crore, including the small portion that went to selling shareholders Xander and Norwest Venture Partners as part of the offer-for-sale.

Kotak Mahindra Capital, ICICI Securities, Inga Capital, Edelweiss and Macquarie managed the issue.

Started in 2007, it specialises in roads related build-operate-transfer (BOT) projects. All projects are implemented and held through special purpose vehicles, including joint venture entities.

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Its operations are spread across Maharashtra, Gujarat, Rajasthan, Karnataka, Haryana, Madhya Pradesh and Telangana.

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