New Delhi, Sep 17 (PTI) Shares of Karamtara Engineering, a manufacturer of engineering steel products for renewable energy and power transmission sectors, surged nearly 39 per cent against the issue price of Rs 254 on the first day of trading on Thursday.
The company’s stock made its market debut at Rs 320, registering a jump of 25.98 per cent from the issue price, on both the BSE and NSE.
Shares of the firm surged 38.56 per cent to end at Rs 351.95 on the BSE.
The company’s stock ended at Rs 352 on the NSE, up 38.58 per cent.
It commanded a market valuation of Rs 11,326.55 crore.
Karamtara Engineering’s Rs 875-crore IPO got subscribed 62.63 times on the last day of share sale on Friday.
The IPO had a fresh issue of Rs 675 crore and an OFS of shares
worth up to Rs 200 crore. The price band was fixed at Rs 241-254 per share.
Karamtara Engineering had collected Rs 262.50 crore from anchor investors.
The company manufactures transmission line towers, solar structures and tracker components, wind energy structures, structural steel profiles and fasteners for domestic and overseas markets. PTI SUM SUM VHI VHI
