Meanwhile, the BSE Sensex was down 63.92 points, or 0.33%, as US stocks tumbled on Monday, 26 November 2007, as investors worried rising US mortgage defaults and credit market losses will drag on the US economy, fueling fears that US consumers will slash spending during the vital holiday season.

Mundra Port and Special Economic Zone debuted at Rs 770 a premium of 75% over the IPO price of Rs 440.

The stock hit a high of Rs 1,150 and a low of Rs 770 so far during the day. Mundra Port and Special Economic Zone got listed on bourses today Tuesday, 27 November 2007. The company had fixed the IPO price at the top end of the Rs 400-440 price band.

On BSE, 19.65 lakh shares changed hands in the counter.

At the current price of Rs 980, the PE multiple works out to 208.51, based on the year ended March 2007 anualised EPS of Rs 4.7.

The Mundra Port had IPO ended on 8 November 2007 with 115.84 times subscription. The qualified institutional buyers (QIBs) category was subscribed 159.59 times. The non institutional investors category, made up of corporates and high net investors, was subscribed 156.45 times. The retail investors category was subscribed 16.19 times.

Mundra Port plans to use proceeds of the issue to part finance construction and development of basic infrastructure and the allied facilities in the proposed Special Economic Zone (SEZ) at Mundra; construction and development of a terminal for coal and other cargo; contribution towards investment in Adani Petronet (Dahej) Port; contribution towards investment in Adani Logistics and contribution towards investment in Inland Conware.

An Adani group company, Mundra Port and Special Economic Zone has received approval as a developer of a multi-product SEZ at Mundra in Gujarat and the surrounding areas from the government, making it one of the first port-based multi-product SEZs in India.

The port is located 70 kiloeter (km) from Bhuj airport and includes road, sea links and all weather multi-purpose terminals. It is principally engaged in providing port services for bulk cargo, container cargo, crude oil cargo and value- added port services, including railway services. It also generates income from land related and infrastructure activities.

Mundra Port and Special Economic Zone reported a net profit of Rs 192.11 crore on sales of Rs 579.74 crore in the year ended March 2007.

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