Ashoka Buildcon, the Road-focused infrastructure firm on Thursday listed at 340 rupees on the BSE, increased by 4.9 percent on its issue price of 324 rupees per share.

The corporation is thinking to use the progress of the 2.25-billion-rupee initial public offering to retire debit and buy gear.

The corporation lifts up 403 million rupees by assigning 1.2 million shares to anchor investors at the higher end of the price band of 297-324 rupees.

It attached in 15 anchor investors, including DSP Blackrock, AIG Global, Citigroup Global Markets and Macquarie Bank.

Enam Securities and IDFC Capital had been the major managers to the proposal, even as Motilal Oswal Investment Advisors was the co-lead manager.

At 9:02 a.m., shares of Ashoka Buildcon remain at 316 rupees, down by 2.4 % in a solid Mumbai market.