Sadbhav Infrastructure Project made a strong debut on the Dalal Street. Its shares listed at Rs 111 on NSE as compared to its issue price of Rs 103, a gain of nearly 8 per cent.
The Rs 425-crore initial public offering (IPO) of Sadbhav Infrastructure Project was subscribed 2.22 times. It was open for subscription between August 31 and September 2.
Vasistha Patel, MD at Sadbhav Infrastructure Project, told NDTV that the company has 13 BOT (build-operate-transfer) projects at present, of which nine are operational and four are under construction. The company expects to achieve commercial operation of the under construction projects within next 6 months, he said.
Mr Patel also said more BOT projects are becoming operational every year, adding to the company's revenues. "Revenue is expected to increase going ahead. Last year, it was around Rs 550 crore... This year we are targeting Rs 750 crore."
Sadbhav Infrastructure Project, which is a subsidiary of Sadbhav Engineering Ltd, was incorporated as an asset holding company for road and other Infrastructure BOT projects in 2007.
The fundamental function of Sadbhav Infrastructure is development, operation and maintenance of road infrastructure assets.
Shares in Sadbhav Infrastructure Project, on Wednesday, ended over 3 per cent higher at Rs 106.15 apiece on the NSE, as compared to the issue price.
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