Ramky IPO subscribed

Sep 23, 2010 |

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Sept. 23: Ramky Infrastructure Ltd’s initial public offer (IPO) has got subscribed four times at the close of the issue on Thursday. The Hyderabad-based infrastructure developer had offered 1.09 crore shares for sale through the IPO.

“Now that the initial public offer is successfully completed, we would like to focus on deliverance of existing projects. Our revenue has been growing a CAGR of around 50 per cent and we will continue to focus on maintaining that growth rate,” Mr Ayodhya Rami Reddy, the chairman of Ramky Infrastructure, said.

From financial year 2006 to 2010, the Hyderabad-based infra firm had grown at a CAGR of 48 per cent.

The IPO, which was priced in the range of Rs 405 to Rs 468 per share, consisted of fresh shares aggregating up to Rs 350 crore and an offer for sale of shares amounting to about Rs 180 crore. It has an order book of Rs 7,431 crore at the end of March 31 and had added more contracts worth Rs 3,147 crore to its order book in the period between April 1, 2010 to June 30, 2010.

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