GSS America appreciates after listing

MUMBAI: Shares of GSS America Friday listed at Rs 380 on NSE, a discount of Rs 20 or 5 per cent to the issue price of Rs 400. At 9:58 am, the share was at Rs 435.15. It touched a high of Rs 540, and the low was Rs 370. In the few minutes of trade, 1,07,730 shares have already changed hands.

At 9:59 am on BSE, the stock was quoting Rs 464 after opening flat at Rs 400 and also the low. The high was Rs 475. Around 6,17,035 shares have been traded so far. The initial public offer of 34.97 lakh equity shares was priced Rs 400- Rs 440 per share of Rs 10 each. The issue was subscribed 1.08 times. GSS America will utilise the proceeds to fund its new delivery centre in Hyderabad and set up overseas offices.