Shriram EPC debuts today

Thebullishtrends: Shriram EPC debuts today in stock exchanges. Shriram EPC Entered into the IPO market in last month with a price band of Rs.290-330 per Rs.10 equity share. The entire IPO subscribed 3.90 times .Chennai based Shriram EPC involved in engineering, integrated designing,procurement,construction and project management services for renewable energry projects and metallurgical projects.

The market sentiment on Infra companies is very less. Shriram EPC is changing hands in grey market in discount price. Shriram EPC price band was very high though it has allotted shares at Rs.300 the P/E works out by 90 times which is very high compared to its peers of Thermax and BGR Energry. Shriram EPC has allotted shares at Rs.300 price band of Rs.10 per share. Seems to be Shriram EPC will list at Rs.300 and there is a strong possibility to come down the share price from Rs.300 to Rs.270-280 levels,