Parsvnath scrip lists at a premium of 80 per cent

Mumbai: Shares of real estate firm Parsvnath Developers, listed at Rs540 on the Bombay Stock Exchange, and were trading at Rs551.30 within minutes of listing (10.11 am). The shares were listed on both the BSE and the National Stock Exchange (NSE).

The listing price of Rs540 on the BSE shows a premium of 80 per cent over the issue price of Rs300.

With a total of 8,89,048 shares changing hands, the stock witnessed a high of Rs579 and a low of Rs481.50 in morning trades. The company`s shares are traded under the Scrip Code : 532780 in the list of `A` group securities on the Bombay Stock Exchange (BSE).

The company, a leading real estate player in India, entered the capital market with a public issue of up to 33 million equity shares of Rs10 each for cash at a Rs250-300 price band.

The net proceeds of the IPO will be used for funding various ongoing projects of the company across the country.

Parsvnath has 25 state-of-the-art residential complex, 3 landmark construction sites at Lucknow, Noida and Gurgaon, 16 commercial projects, 20 integrated townships, four information IT parks, 14 hotels in addition to nine SEZs on hand.