Punj Lloyd debuts at premium of 51 per cent
07 Jan 2006
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Mumbai: Punj Lloyd's shares listed at a 51.11 per cent premium on the stock markets on Friday to close at Rs1,057, compared to the issue price of Rs700 per share.
Punj Lloyd was the most actively traded stock on Friday with over 1.41 crore shares changing hands. The company's IPO was for 91.73 lakh shares. (About 46.55 lakh shares of the Punj Lloyd changed hands at the BSE while another 95.25 lakh shares were traded on the NSE.)
Traders said the shares were much in demand after the company informed that it had won about US$191mn worth of new orders prior to the start of the trading. Punj Lloyd's IPO was oversubscribed by 39.06 times. The company's IPO constituted 17.57 of the fully diluted post issue paid-up equity capital of Punj Lloyd.
Punj Lloyd has been granted a letter of intent by Bechtel for a pipeline project in Abu Dhabi for US$28.90mn and has also received a letter of intent by Matrix for another project in Abu Dhabi for AED29.44mn (United Arab Emirates Dirham).
In addition, Punj Lloyd said it also received a letter of intent by the Road Infrastructure Development Company of Rajasthan Ltd for construction of roads in three sectors in the State for a total of Rs593.54 crore (US$132mn).
Punj Lloyd was the most actively traded stock on Friday with over 1.41 crore shares changing hands. The company's IPO was for 91.73 lakh shares. (About 46.55 lakh shares of the Punj Lloyd changed hands at the BSE while another 95.25 lakh shares were traded on the NSE.)
Traders said the shares were much in demand after the company informed that it had won about US$191mn worth of new orders prior to the start of the trading. Punj Lloyd's IPO was oversubscribed by 39.06 times. The company's IPO constituted 17.57 of the fully diluted post issue paid-up equity capital of Punj Lloyd.
Punj Lloyd has been granted a letter of intent by Bechtel for a pipeline project in Abu Dhabi for US$28.90mn and has also received a letter of intent by Matrix for another project in Abu Dhabi for AED29.44mn (United Arab Emirates Dirham).
In addition, Punj Lloyd said it also received a letter of intent by the Road Infrastructure Development Company of Rajasthan Ltd for construction of roads in three sectors in the State for a total of Rs593.54 crore (US$132mn).
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