Techpro Systems Limited IPO : Settled at 13.18% premium on debut

by khalid on 13/10/2010 · 0 comments

Tecpro Systems’s shares debuted at Rs 399.40, a 12.5% premium to the initial public offering (IPO) price of Rs 355. At the end if the day shares price was Rs 401.80 which is a premium of 13.18% over the issue price. The stock hitted a high of Rs. 453.80 and low of Rs. 380.10 on the day 1. The volume stood at 1.7 crore shares. Tecpro Systems Limited is a Rs1000 cr turnover company undertakes turnkey projects in Bulk Solids Handling Systems including, raw material handling systems for power, steel, cement plants etc.

Techpro Systems Limited IPO had been oversubscribed 24.47 times at the end of the final day of subscription 28 September 2010. The IPO of Techpro Systems Limited had received a so so response from the investors with the final over-subscription figure nearing to about 24.47 times on an overall basis. Retail Individual Investors category of investors had shown least support of 9.07 times only. A price band was at Rs 340-355 a share. The issue was opened for subscription during September 23-27 and was subscribed 24.47 times.

Listing day Summary :-
Listing Date: 12th Oct 2010
BSE Scrip Code : 533266
Listing In : ‘B’ Group of Securities
ISIN : INE904H01010
Issue Price Fixed : Rs. 355.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share

On the BSE:-
Issue Price: Rs. 355.00
Open : 399.40
High : 453.80
Low : 380.10
Close : 401.80
Last Trade : 401.80

Tecpro is engaged in providing turnkey solutions in material handling, ash handling, balance of plant and engineering, procurement and construction contracts. In material handling solutions business, the company does design, engineer, manufacture, sell, commission and service a range of systems and equipment for the core infrastructure related sectors like power, steel, cement and other industries.

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