Capacit’e Infraprojects shares surge nearly 60 percent on market debut

India’s Capacit‘e Infraprojects Ltd shares surged as much as 59.6 percent on its market debut on Monday after the company raised 4 billion rupees ($ 62 million) in an initial public offering earlier this month.

Shares in the company, which builds residential and commercial buildings, were trading at 363.20 rupees by 0432 GMT, 44.3 percent higher than the listing price of 250 rupees.

The offering was fully subscribed on the first day of the sale with investors bidding 183 times the total shares on offer by the end of the sale.