KNR Const shares will debut on Monday

Thebullishtrends: KNR Const shares will debut tomorrow in stock exchagnes. It will trade in B1 group from Monday onwards. It is not a good time for KNR Constructions share holders as KNR Const may not provide any listing gains. KNR Const shares are changing hands in discount price in grey market. KNR Const IPO ended with 1.25 times subscriptions.

At the lower end of the price band, the company would raise Rs 133 crore and at the upper band it would accumulate over Rs 141 crore.

KNR Constructions is an infrastructure project development company. KNR Const from the issue are intended to be deployed for further equity investment in BOT projects and contribution towards the unsecured loan portion in the BOT Project. This issue proceeds will also be used for purchase of capital equipment and for meeting working capital requirement. Credit rating agency CRISIL has assigned a CRISIL IPO Grade '3/5' to the proposed IPO.

KNR Const IPO has offered shares at Rs.170 and it will list around Rs.160 and there is a possibility to touch the bottom level of below Rs.140 tomorrow. It is better for KNR Const share holders to liquidate these shares in a better price tomorrow.