Supreme Infrastructure India (SIIL) will debut on exchanges on Thursday, 18 October 2007. It will be placed in the B1 group on BSE.The company had fixed the IPO price at the top end of the Rs 95-108 price band.
At the IPO price of Rs 108, the PE multiple works out to 11.73, based on the year ended March 2007 EPS of Rs 9.2.
The Supreme Infrastructure IPO had ended on 26 September 2007 with 52.75 times subscription. It received total bids for 18.32 crore shares as against total issue size of 34.75 lakh shares.
The qualified institutional buyers (QIBs) category was subscribed 52.10 times. The non-institutional investors category was subcribed 65.42 times. The retail investors category was subscribed 48.22 times.
The issue constituted 25.05% of the post issue paid-up capital of the company. The proceeds of the IPO will be utilised to part-finance the company's expansion plans and meet its long-term capital requirements.
The company also has plans to foray into the construction contracting activity in real estate projects.
SIIL is into infrastructure development, primarily engaged in civil construction. Presently, it is engaged in construction of roads, highways, widening of highways and execution of contracts under National Highway Authority of India (NHAI), Mumbai Metropolitan Region Development Authority (MMRDA) and others. As on August 1, the company had orders to the tune of Rs 299.84 crore
SIIL reported a net profit of Rs 12.76 crore on sales of 81.66 crore in the year ended March 2007.|