AVP Infracon Makes Tepid Entry on NSE SME, Opens at ₹79 with 5.3% Gain

AVP Infracon Limited's shares opened on NSE SME at ₹79, slightly up by 5.33% from the issue price, but soon hit a 5% lower circuit after a tepid debut.
AVP Infracon Enters Market with 5 Percent Gain

AVP Infracon Limited’s shares had a modest opening on the NSE SME, starting at ₹79, a 5.33% increase over the ₹75 issue price. Despite being oversubscribed, the stock experienced a lukewarm debut, hitting a 5% lower circuit shortly after listing.

The AVP Infracon IPO, open from March 13 to 15, saw a strong response, oversubscribed 21.45 times by the final day, with significant retail and non-institutional investor interest and modest QIB participation.

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AVP Infracon Ltd specializes in diverse construction projects, including complex infrastructures like expressways, highways, flyovers, and bridges, along with irrigation, urban development, and various commercial and residential buildings. Primarily active in Tamil Nadu, the company manages everything from conceptualization to completion, ensuring rapid project turnaround and enhanced investment returns.

AVP Infracon Limited plans to invest INR 15 crores in capital equipment like road laying and material handling, and allocate INR 35 crores for essential working capital needs from its IPO proceeds.

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