Varun Industries on Thursday (November 22) got listed at Rs 105 on the Bombay Stock exchange (BSE) with a premium of 75% over its issue price of Rs 60.
Within minutes of listing, the scrip touched a high of Rs 150 and over 1.23 million shares changed hands on BSE.
The scrip later pared its gain and was last trading up close to its opening price at Rs 108.10. (09.58 am)
Meanwhile, on the NSE the company got listed at Rs 105 and touched a high of Rs 140.
The company had come out with an initial public offering (IPO) of 9 million shares of Rs 10 each at a price of Rs 60 a share. The Issue was open for subscription from October 25 to November 1.
Mumbai-based Varun Industries is an exporter of stainless steel kitchenware, table ware, pet ware and other utility items. The company has its manufacturing plant and warehouse at Vasai, near Mumbai.
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