Mumbai: J Kumar Infraprojects Ltd., a civil engineering and infrastructure development company, on Tuesday got listed at Rs100 on the Bombay Stock Exchange, registering a decline of 9% over its issue price of Rs110.
Within minutes of listing, the scrip witnessed heavy volatility and touched a high of Rs116.95 and a low of Rs84.20 on the BSE.
On the National Stock Exchange, the scrip opened at Rs109, a marginal decline over its issue price of Rs110. The scrip witnessed a high of Rs119 and low of Rs84.20.
On the volume front, as many as 38.05 shares exchanged hands on the BSE and over 29.49 shares got traded on the NSE.
The company, which is into transportation engineering, civil construction, irrigating projects and piling work, got listed with over 2.07 crore equity shares at an issue price of Rs110 per share.
The proceeds of the issue would be utilised for funding working capital requirements and to buy capital equipments.