Road and bridge firm's IPO oversubscribed 316 times, first mainboard listing from city in 8 years

A company specializing in road and bridge construction and toll operations completed a highly oversubscribed initial public offering (IPO), ranking third in the country by subscription rate. The IPO was oversubscribed 316 times and marks the first mainboard listing from its city in eight years. The company, established in 1995, has a strong track record with projects worth over Rs. 2,000 crore across multiple states and a low debt-equity ratio, positioning it well for future growth. The government's recent budget allocation for infrastructure, particularly roads, supports the company's expansion plans. The company's leadership emphasizes technological advancement and efficiency, with a next-generation director contributing digital expertise. Financial experts highlight the company's balanced business model and strong returns, underscoring investor confidence and sustainable growth prospects. The shares are listed on major national stock exchanges, signaling a new phase in the company's development.