Shares of PNC Infratech today listed on the stock exchanges with a premium of over 2 per cent against the issue price of Rs 378 a share. The stock debuted at Rs 381, up 0.79 per cent, on BSE. On NSE, PNC Infratech listed at Rs 387, a gain of 2.38 per cent.
Currently, the company commands a market valuation of Rs 1,911.22 crore.
In terms of volume, 6.66 lakh shares of the company changed hands at BSE while over 24 lakh shares were traded at NSE in the morning trade.
The initial public offer (IPO) of the Agra-based company was subscribed 1.54 times earlier this month.
The company runs projects in Rajasthan, Punjab, Haryana, Uttarakhand, Uttar Pradesh, Delhi, Bihar, West Bengal, Assam, Madhya Pradesh, Maharashtra, Karnataka and Tamil Nadu.
PNC Infratech Ltd. is an Indian infrastructure construction, development and management company, with expertise in the execution of major infrastructure projects, including highways, bridges, flyovers, power transmission lines, airport runways, development of industrial areas and other infrastructure activities. It provides EPC services on a fixed-sum turnkey basis as well as on an item rate basis for various infrastructure projects. They also execute projects on a BOT (including on a DBFOT basis), operate them during the concession period on toll or annuity basis and subsequently transfer the projects. The company has executed or is executing projects across various states in India covering Rajasthan, Punjab, Haryana, Uttarakhand, Uttar Pradesh, Delhi, Bihar, West Bengal, Assam, Madhya Pradesh, Maharashtra, Karnataka and Tamil Nadu. The Company has executed 42 major infrastructure projects on an EPC basis, acquiring experience particularly in the timely execution of EPC contracts since its incorporation. They have an established track record in executing large construction projects particularly in the roads and highways and airport runways sectors. The Company’s order book in terms of total value of contracts including escalation was Rs. 78,497.00 million as on March 31, 2015 and Rs. 60,857.80 million as on March 31, 2014.