MUMBAI, Oct 25 (Reuters) - Infrastructure developer Maytas
Infra Ltd <MAIL.BO> debuted at 519 rupees a share on Thursday on
the BSE, 40.3 percent higher than the issue price of 370 rupees.
The shares were trading at 560 rupees at 9:57 a.m. after
reaching a high of 565 rupees.
Maytas, promoted by the founders of Satyam Computer Services
Ltd <SATY.BO>, sold 8.85 million shares or a 15 percent stake
through the initial public offer to raise 3.27 billion rupees.
It plans to spend the money on new projects and equipment.
The company, which has 11 road, power and port projects,
posted a net profit of 550 million rupees on revenue of 6.4
billion rupees in the year to March 2007, the offer document
showed.
((Reporting by Narayanan Somasundaram, editing by Sunil Nair;
Reuters Messaging;
[email protected]; +91 22 6636
9068))
Keywords: MAYTAS IPO/