Thursday, October 25, 2007

Maytas Infra shines on debut

The stock debuted at Rs 480, a premium of 29.7% over the IPO price. The scrip hit a low of Rs 480 and high of Rs 565 in early trade. On BSE, 5.2 lakh shares changed hands in the counter.

The company had priced the IPO at the top end of the Rs 320-370 price band.

The current price of Rs 551.10 discounts its consolidated year ended March 2007 EPS of Rs 9, by a PE multiple of 61.2. At the IPO price of Rs 370, the PE multiple was 41.11, based on the consolidated year ended March 2007 EPS of Rs 9.

The IPO had ended on 4 October 2007 with 67.86 times subscription. The qualified institutional buyers (QIBs) category was subscribed 99.40 times. The non-institutional investors category was subscribed 35.84 times. The retail investors category was subscribed 15.41 times.

Maytas Infra is a Hyderabad-based construction and infrastructure development company. Its business includes undertaking construction contracts and infrastructure development involving identifying, sourcing, developing, and operating projects in infrastructure sectors.

Maytas Infra reported a consolidated net profit of Rs 52.90 crore on sales of Rs 772.71 crore in year ended March 2007.End June 2007, the order book was Rs 3589.32 crore. This is about 4.6 times consolidated revenue in the year ending March 2007 (FY 2007).



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