NEW DELHI: Shares of infrastructure firm Salasar Techno Engineering made a remarkable debut at the bourses today and ended the day with over two-fold increase from its issue price of Rs 108.
The stock closed at Rs 272.10, an over two-fold jump from the IPO price on BSE. The stock listed at Rs 259.15 earlier in the day.
At NSE, shares of the company settled at Rs 262.50.
On the volume front, 10.91 lakh shares of the company were traded on BSE and over 7 lakh shares changed hands on NSE during the day.
The initial public offer of Salasar Techno Engineering was oversubscribed a staggering 272.93 times earlier this month.
The IPO was of 33.21 lakh equity shares at a price of Rs 108 per equity share aggregating to Rs 35.86 crore.
Proceeds from the issue will be utilised for meeting working capital requirements and general corporate purposes.
Rajasthan-based Salasar Techno provides customised steel fabrication solutions in the domestic market.