Analysis and Insights into the world of IPOs and investing in India

Tuesday, October 4, 2011

Prakash Controwell closes in the green despite a falling market day

Prakash Controwell Limited made a solid debut today with the shares of the company closing the listing day at a premium even as the BSE SENSEX lost 286 points or 1.77% on the day.

Prakash Controwell Limited had fixed the Issue Price of shares offered in the IPO at Rs.138/- a share and opened the listing day at Rs.145/- on the BSE. The share did touch an Intra-day low of Rs.112/- but managed to close well above the Issue Price at Rs.229.50 on the BSE, at a premium of about 66.30 percent on the Issue Price

Prakash Constrowell Ltd. is a construction company engaged in the business of infrastructure development and civil construction. The IPO of the company closed on September 21, 2011 and was subscribed 2.21 times on an overall basis with participation from Retail Category coming in at 4.68 times. However, the IPO had remained undersubscribed in the QIB Category at 0.31 times
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