Salasar Techno makes smart mkt debut; stock jumps over twofold

Shares of infrastructure firm

Salasar Techno Engineering made a remarkable debut at the

bourses today and ended the day with over twofold increase

from its issue price of Rs 108.

The stock closed at Rs 272.10, an over twofold 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.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)