Acropetal Technologies makes smart debut at Rs 130 on BSE
IT and BPO firm Acropetal Technologies made an impressive debut opening at a premium of 44.44 per cent over its issue price of Rs 90.
By PTI |
MUMBAI: IT and BPO firm Acropetal Technologies made an impressive debut on the Bombay Stock Exchange today, opening at a premium of 44.44 per cent over its issue price of Rs 90.
Shares of Acropetal Technologies listed at Rs 130 apiece, up 44.44 per cent from their issue price on BSE. Within the minutes of trade, the scrip witnessed a 66.66 per cent jump to an early high of Rs 150.
Shares of the newcomer made a lukewarm listing on the National Stock Exchange, opening just 2.22 per cent higher at Rs 92 apiece. However, they soon gained momentum and rose by 55.55 per cent to Rs 140 in the morning session.
Acropetal Technologies had fixed a price band of Rs 88-90 a share for its Rs 170 crore initial public issue.
The funds raised through the initial public offer will be utilised business expansion within the country and abroad, including setting up a software development centre-cum- corporate office at Hosur Road, Bangalore.
The funds will also be used to make part repayment of term loans and for additional working capital requirements of the company.
Acropetal Technologies offers comprehensive enterprise solutions in the engineering design services, healthcare, and energy and environment sectors.
Meanwhile, the BSE benchmark Sensex was quoting 180.62 points lower at 18,289.33 at 1010 hours.
Shares of Acropetal Technologies listed at Rs 130 apiece, up 44.44 per cent from their issue price on BSE. Within the minutes of trade, the scrip witnessed a 66.66 per cent jump to an early high of Rs 150.
Shares of the newcomer made a lukewarm listing on the National Stock Exchange, opening just 2.22 per cent higher at Rs 92 apiece. However, they soon gained momentum and rose by 55.55 per cent to Rs 140 in the morning session.
Acropetal Technologies had fixed a price band of Rs 88-90 a share for its Rs 170 crore initial public issue.
The funds raised through the initial public offer will be utilised business expansion within the country and abroad, including setting up a software development centre-cum- corporate office at Hosur Road, Bangalore.
The funds will also be used to make part repayment of term loans and for additional working capital requirements of the company.
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Acropetal Technologies offers comprehensive enterprise solutions in the engineering design services, healthcare, and energy and environment sectors.
Meanwhile, the BSE benchmark Sensex was quoting 180.62 points lower at 18,289.33 at 1010 hours.
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