Infrastructure company PSP Projects listed at ₹190, a 10 per cent discount to its issue price of ₹210 on the NSE, on Monday. The stock ended with a loss of 5 per cent at close.
Infrastructure companies are witnessing subdued response to their IPOs as well as listings. The IPO of IRB InvIT Fund was subscribed 8.57 times on overall basis. But against the issue price of ₹102, it made a muted debut at ₹103.25. It closed at ₹99.4 on Monday.
The initial public offer of IndiGrid InvIT also received lukewarm response with the issue being subscribed 1.33 times.
PSP’s IPO was subscribed 8.58 times. While the qualified institutional buyers category was subscribed 8.38 times, non-institutional investors category was subscribed 10.39 times. The retail investors category was subscribed 6.47 times.
PSP is a multi-disciplinary company developing industrial, institutional, government, government residential and residential projects in India. It is present across the construction value chain, ranging from planning and design to construction and post-construction activities to private and public sector enterprises.