Chavda Infra Ltd Share Price – NSE

Construction, Small Cap

Chavda Infra announced that the Board of Directors of the Company at its meeting held on 29 May 2024, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

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Chavda Infra will hold a meeting of the Board of Directors of the Company on 29 May 2024

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Chavda Infra will hold a meeting of the Board of Directors of the Company on 8 November 2023.

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The scrip was listed at Rs 91, a premium of 40% compared with the issue price. The scrip hit a high of Rs 92 and a low of Rs 86.45. About 18.68 lakh shares of the company changed hands at the counter.

Chavda Infra's initial public offer was oversubscribed by an impressive 119.72 times. The IPO, with a price band of Rs 60-65 per share, opened on 12 September and closed on 14 September 2023. It consisted of a fresh issue of 42,84,000 shares, resulting in the dilution of the promoter shareholding from 100% to 73%. Prior to the IPO, Chavda Infra raised Rs 12.32 crore from anchor investors by allotting 18,96,000 shares at Rs 65 per share.

The company plans to utilize the net proceeds for working capital requirements and general corporate purposes.

Chavda Infra offers a diverse range of construction and allied services, focusing on residential, commercial, and institutional projects in Gujarat, particularly in Ahmedabad and Rajkot. The company has a strong order book, with 26 ongoing projects worth approximately Rs 601.39 crore as of 31 May 2023. These projects include 4 commercial, 4 institutional, and 18 residential projects. As of March 31, 2023, the company had a total of 177 employees.

The company recorded revenue from operations of Rs 161.88 crore and net profit of Rs 12.04 crore for the period as on 31 March 2023.

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