Mumbai: Gammon Infrastructure Projects on Thursday got listed with a premium of 7.78% over its issue price of Rs167 on the Bombay Stock Exchange.
The scrip opened at Rs180, with a premium of 7.78% over its issue price of Rs167. It opened at its intra-day high and then slipped to touch a low of Rs149.
The company listed over 14 crore equity shares on the bourses.
At the National Stock Exchange, the scrip opened at Rs170 and touched a high of Rs185.
The scrip was later trading at Rs153.85 on the BSE and Rs152.90 on the NSE at 1018 hrs. Over 9.72 lakh shares changed hands on both the bourses.
The company had raised about Rs276 crore from its initial public offer, which had generated a demand of over three times the shares on offer.
The funds raised through IPO would be utilised for investment in projects and meeting working capital requirements, the company said.