KNR Constructions gets order worth Rs 2,059.96 mn

February 18, 2008

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KNR Constructions said that the company`s 50:50 joint venture with Patel Engineering namely Patel-KNR JV has received from NHAI an order worth Rs 2,059.96 million towards balance works of widening 4/6 laning and strengthening of existing 2 lane carriageway of NH-7 (Madhurai- Kanniyakumari section) in the State of Tamil Nadu.

Equity shares of infrastructure firm KNR Constructions (Q, N,C,F)* were listed at the bourses today, Feb. 18, 2008.

The shares opened at a premium of Rs 10, or 5.88%, at Rs 180 compared to the issue price of Rs 170 a share. The scrip has hit a high of Rs 199 and low of Rs 155.65. It is currently trading at Rs 159.60. (12.16 p.m., Monday)

KNR Constructions had come out with an initial public offering (IPO) of 7,874,570 equity shares of Rs 10 each, offering shares in the price band between Rs 170-180 a share. The issue was open for subscription from Jan. 24, 2008 to Jan. 29, 2008.

Source: myiris.com