The Hindu Business Line : GMR Infra debuts at Rs 215

The GMR Infrastructure stock made its debut on the bourses on Monday at Rs 215, at a premium against its issue price of Rs 210 in a flat market. The stock witnessed an intra-day high of Rs 219.80 before closing at Rs 210.30.

"The interest in the stock was dull, particularly from the retail side as even during the IPO the retail portion was not fully subscribed. There was hardly any participation on the domestic front," said Mr Ravindra Kasliwala, Head (Equity), Inventure Growth and Securities Ltd.

During the offer the issue was oversubscribed 6.5 times and the issue price was fixed at Rs 210.

The company had offered 3,81,36,980 equity shares, out of which 60 per cent was reserved for qualified institutional buyers, 10 per cent for non-institutional investors and the rest for retail investors.

The net offer to the public constitutes 11.37 per cent of the fully diluted post-issue paid-up capital of the company.

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