VA Tech Wabag lists at 14.5% premium, touches Rs 1,745
VA Tech Wabag Ltd on Wednesday listed at Rs 1,500 on the NSE, a premium of Rs 190 or 14.5 per cent to the issue price of Rs 1,310.
By ET Bureau |
MUMBAI: VA Tech Wabag Ltd Wednesday listed at Rs 1,500 on the National Stock Exchange, a premium of Rs 190 or 14.5 per cent to the issue price of Rs 1,310.
At 9:58 am, the stock traded at Rs 1,727.55, up by 31.87 per cent after touching a high of Rs 1,745.65. Total traded quantity was 28,19,831 shares, and turnover Rs 481.30 crore.
VA Tech Wabag provides a range of EPC and O&M solutions for sewage treatment, processed and drinking water treatment, effluent treatment, sludge treatment, desalination and reuse for municipal corporations, and companies in the infrastructure sector such as power, steel and oil and gas companies. The company has presence in India, Middle East, North Africa, Central and Eastern Europe, China and South East Asia.
The company raised Rs 472.39 crore from its initial public offering, made up of fresh issue of 9,54,198 equity shares and offer for sale of 26,53,383 shares. The issue was open between September 22 and 27, and priced at Rs 1230-1310 per share. It was subscribed 36.22 times.
VA Tech Wabag plans to use the IPO proceeds for working capital, construction of a corporate office at Chennai, and implementation of global IT systems.
At 9:58 am, the stock traded at Rs 1,727.55, up by 31.87 per cent after touching a high of Rs 1,745.65. Total traded quantity was 28,19,831 shares, and turnover Rs 481.30 crore.
VA Tech Wabag provides a range of EPC and O&M solutions for sewage treatment, processed and drinking water treatment, effluent treatment, sludge treatment, desalination and reuse for municipal corporations, and companies in the infrastructure sector such as power, steel and oil and gas companies. The company has presence in India, Middle East, North Africa, Central and Eastern Europe, China and South East Asia.
The company raised Rs 472.39 crore from its initial public offering, made up of fresh issue of 9,54,198 equity shares and offer for sale of 26,53,383 shares. The issue was open between September 22 and 27, and priced at Rs 1230-1310 per share. It was subscribed 36.22 times.
VA Tech Wabag plans to use the IPO proceeds for working capital, construction of a corporate office at Chennai, and implementation of global IT systems.
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