Omaxe settled at Rs 349.95 on BSE, a premium of 12.8% over IPO price of Rs 310. The stock debuted at Rs 400. It hit a low of Rs 341.50 and high of Rs 410. On BSE, 1.21 crore shares changed hands in the counter.

The IPO of Omxe had received strong investor response. It was subscribed 68 times. The company had priced the IPO at the top end of the Rs 265 to Rs 310 price band.

The current price of Rs 349.95 discounts its FY 2007 EPS of Rs 14.89, by a PE multiple of 23.50.

At Rs 310, the IPO was priced 20.8 times its FY 2007 EPS of Rs 14.89. Post issue equity of the company is Rs 172.75 crore, with 17.275 crore outstanding shares of a face value of Rs 10.

The National Stock Exchange (NSE) has included Omaxe in futures & options (F&O) segment. The lot size of Omaxe in F&O is set at 650.

Omaxe is a real-estate development and construction company promoted and founded by Rohtas Goel. Commencing operation as a construction and contracting company, Oxame has completed 120 construction projects. Now, its focus is fully on development of residential and commercial real-estate projects ranging from integrated townships, group housing and retail and other commercial properties, hotels, information technology and bio-tech parks to special economic zones.

Omaxe’s consolidated net profit surged 116.5% to Rs 257.26 crore on a 75.7% rise in sales to Rs 1431.29 in FY 2007 over FY 2006.