Shares of infrastructure firm Salasar Techno Engineering (STEL) made a strong debut at the bourses today with over a 151% increase from its issue price of Rs 108. The IPO had been over-subscribed an astonishing 272.9 times. The company is currently holding steady at Rs. 272.1 on the BSE as of this writing. 

Analysts were broadly bullish about this IPO, noting that the listing was priced reasonably. The company had also seen good balance sheet growth over the last few years. Over FY13- FY17 the revenues of STEL grew at a CAGR of 16%, and growth in net profit was 43.2%.