Consolidated Construction Consortium settled at Rs 791.45 on BSE, a premium of 55.18% against the IPO price of Rs 510.

The stock debuted at Rs 801, a premium of 57.05% against the IPO price. It touched a high of Rs 825.25 and a low of Rs 736.20.

On BSE, 58.28 lakh shares of the scrip were traded.

At the current price of Rs 791.45, the PE multiple works out to 61.35, based on the year ended March 2007 EPS of Rs 12.9.

The company had set Rs 460-510 per share price band for IPO.

The IPO had received total bids for 30.03 crore shares as against total IPO size of 37 lakh shares. The qualified institutional buyers (QIBs) category was subscribed 118 times. The non-institutional investors category was subscribed 68 times. The retail investors category was subscribed 13 times.

The company intends to use the proceeds to finance investment in subsidiaries, expenditures towards its skill and management development centre, and repayment of loans.

Consolidated Constructions order book stood at over Rs 2,000 crore as on 31 July 2007. For year ended March 2007, it reported net profit of Rs 47.68 crore on sales of Rs 863.34 crore.

The company undertakes turnkey building contracts for corporate, infrastructure and realty players. It has clients in sectors such as IT, manufacturing, retailing and education.

Consolidated Construction Consortium had reported a profit after tax of Rs 47.68 crore on sales of Rs 863.34 crore in the year ended March 2007.|