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

Prakash Constrowell Limited is set to list its equity shares on exchanges on Tuesday, October 4, 2011. It has fixed the issue price at higher end of price band of Rs 130-138 per share. The following are the listing details:

Prakash Constrowell Limited Listing Info:
ISIN: INE023M01019
Listing Date: Tuesday, October 04, 2011
BSE Scrip Code: 533605
NSE Symbol: PRAKASHCON
Listing Group: 'B' Group of Securities
Issue Price: Rs. 138/- per equity share

Category		No.of shares offered / reserved		No. of shares bid for		No. of times of total meant for the category
QIB		2307692		724750		0.3141
HNI		692308		1909850		2.7587
Retail (RII)		1615385		7562000		4.6812
Total						2.21		times

QIB: 0.31 times
Non-Institutional Investors: 2.76 times
Retail: 4.68 times
Overall: 2.21 times

QIB: 0.31 times
Non-Institutional Investors: 0.52 times
Retail: 1.40 times
Overall: 0.73 times

Prakash Constrowell Limited, a construction company headquartered in Nashik, Maharashtra, has entered the capital markets with an Initial Public Offer (IPO) to raise Rs.60 Crores. The issue would remain open for subscription between September 19, 2011 and September 21, 2011

The 100% Book Building Issue would be in a price band of Rs.130/- to Rs.138/- per equity share for shares having a Face Value of Rs.10/- each. The applications can be made in a bid lot of 50 Equity Shares and in multiples thereof. Intensive Fiscal Services Private Limited, based in Mumbai is the Book Running Lead Manager to the Issue while Bigshare Services Pvt. Ltd. is the Registrar to the issue.

Click here to read analysis on Prakash Controwell IPO from Indian IPO Blog - Insights