MUMBAI: Shares of Man Infraconstruction today hit the floor with a premium of nearly 33 per cent at Rs 335 on the BSE, over its issue price.

After opening firm on the benchmark Bombay Stock Exchange, shares of the Mumbai-based construction firm surged 49 per cent to a high of Rs 374.90, over its issue price of Rs 252 per share.

The company is offering 4.95 crore shares with a face value of Rs 10 each.

Similarly, on the National Stock Exchange the stock opened 26.19 per cent higher at Rs 318.

Man Infra provides construction services for ports, roads besides undertaking residential, industrial, commercial projects.

Last month, investors had snapped up the initial public offer from Man Infraconstruction as hot cakes by subscribing it 62.33 times at the end of the offer, making it the most successful issue so far in the year.

Significantly, the offer received strong support from both institutional as well as non-institutional investors.

Shares of Man Infraconstruction were trading at Rs 368 on BSE, up 46 per cent over its issue price at 0924 hrs.