SRIT India jumps in debut trade, valued near $104 million
SRIT India jumped nearly 14% in its debut trade on the NSE, opening at 148 rupees compared to its IPO issue price of 130 rupees. The stock was last seen trading 19.3% higher, valuing the software solutions company at nearly 10 billion rupees ($103.78 million). The company's 2.2-billion-rupee IPO, which was entirely a fresh issue of shares, was subscribed over 125 times last week.
78 million). 3% higher. 2-billion-rupee IPO, made entirely through a fresh issue of shares, was subscribed more than 125 times last week. 8 times and NIIs 313 times.
SRIT India said it will use the IPO proceeds to modernise and redevelop existing products, meet working-capital needs and pursue acquisitions. 8 million shares had traded so far. 3550 Indian rupees)