GMR Infrastructure rises 2.4 pct on debut

Mumbai: Shares in construction firm GMR Infrastructure Ltd. rose 2.4 percent on their debut to 215 rupees on the Bombay Stock Exchange on Monday.
The company had raised 8.01 billion rupees in an initial public offering earlier this month selling 38.1 million shares, or 11.5 percent of the post-issue equity, to fund airport and road projects.
GMR, whose IPO was subscribed 6.68 times, priced its shares at 210 rupees -- the lower end of an indicated 210-250 rupees band as demand for IPOs cooled after an emerging markets sell-off in May
21/08/06 Reuters

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