Texmo Pipes, Man Infra shine on debut

Shares of Texmo Pipes surged over 50% on the listing day against the issue price of Rs90. It closed the week at Rs143. The initial public offer (IPO) of Texmo Pipes & Products closed on 19 February, with an oversubscription of 7.48 times.

Texmo manufactures PVC and HDPE pipes. The company will use the proceeds for the expansion of its product range. Texmo’s debut performance was the third best this year after ARSS Infrastructure Ltd and Jubilant Food Works Ltd.

Shares of Man Infraconstruction listed at almost 38% premium to the issue price of Rs252. It ended the week at Rs334. The company’s initial public offer was subscribed 62.33 times. Man Infra provides construction services for building ports and roads, besides undertaking residential, industrial and commercial projects.

IL&FS Transportation Networks' initial public offering (IPO) was subscribed 1.86 times, while that of Pradip Overseas was subscribed 2.27 times, as per data available on the NSE website.