Varroc Engineering Ltd. makes a strong debut on the bourses on Friday with scrip got listed at Rs 1,032.00 on the Bombay Stock Exchange, a 6.72 per cent premium to its issue price of Rs 967.00. On the National Stock Exchange, the stock was listed at Rs 1,015.00.
The company, which raised 2.02 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 202.22 lakhs shares.
The company, listed under B Group Securities post its IPO, opened for subscription from Jun 26 to Jun 28. Following a strong opening, the scrip touched an intraday high of Rs 1,062.00 and a low of Rs 1,000.00, before closing the session up by 7.60 per cent to its listing price at Rs 1,040.55 on the BSE.
The company anticipates using the proceeds of the issue for . IIFL Holdings Limited,Kotak Mahindra Capital Company Ltd.,Citigroup Global Markets India Pvt. Ltd.,Credit Suisse Securities (India) Pvt. Ltd. as lead managers & Link Intime India Pvt. Ltd. is the registrar, to the issue.