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Supreme Infrastructure India (SIIL) was subscribed 0.05 times on the first day. It received total bids for 1.87 lakh shares as against total issue size of 34.75 lakh shares.
The issue constitutes 25.05% of the post issue paid-up capital of the company. The proceeds of the IPO will be to part-finance the company's expansion plans and meet its long-term capital requirements.
The company also has plans to foray into the construction contracting activity in real estate projects.
SIIL is into infrastructure development, primarily engaged in civil construction. Presently, it is engaged in construction of roads, highways, widening of highways and execution of contracts under National Highway Authority of India (NHAI), Mumbai Metropolitan Region Development Authority (MMRDA) and others.
As on August 1, the company had orders to the tune of Rs 299.84 crore.
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