• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, Feb 25 Tulsi Extrusions and IRB Infrastructure Developers today made their debut on the capital markets at a premium on NSE. Tulsi Extrusions, PVC pipes and fittings manufacturer for the irrigation, industrial, infrastructure and housing sector, opened at a premium of 16.47 per cent against its issue of Rs 85 on the NSE. It touched an intraday high of Rs 144.50 and a low of Rs 99.

When trading closed for the day, the share price of the company stood at Rs 140.85 making a total turnover of Rs 47,681.58 lakh as per the latest data available on the NSE. On the BSE, too, it opened at a premium of 9.94 per cent. The scrip touched an intraday high of Rs 143.45 and a low of Rs 93.45 before closing the day at Rs 139.50.

Earlier on the month, Tulsi Extrusions had hit the market with an IPO of 56 lakh equity shares where the issue was subscribed a total of 2.08 times. The proceeds of the IPO would be used to expand its manufacturing facilities at Jalgaon by increasing the capacity of existing operations and further expansion of product range by venturing into manufacture of PVC injection moulded fittings, HDPE Sprinkler Systems, Inline Drip Irrigation System, LLDPE fittings for micro irrigation.

IRB Infrastructure Developers, company engaged in road and highway construction and maintenance, opened at a premium of 5.35 per cent against its issue price of Rs 185 as per data available on NSE. During the day, the stock touched an intraday high of Rs 200 and a low of Rs 168, before closing at Rs 189.65.

While on BSE, the stock opened at a discount of 8.08 per cent against the issue price. The stock touched an intraday high of Rs 209 and a low of Rs 167.30. When trading closed for the day, the share price stood at Rs189.05.

IRB Infrastructure, too had entered the capital market with an IPO earlier this month. The company proposes use the proceeds to invest in its subsidiary, IDAA, and make prepayment and repayment of existing loans and the subsidiaries.

The shares of both Tulsi Extrusions and IRB Infrastructure Developers were amongst the most actively traded on the NSE today. Tulsi Extrusions, in fact, was the top gainer on NSE closing 65 per cent up than its opening price.

State-run Rural Electrification Corporation (REC) Ltd today fixed the price at Rs 105 per equity share – the top end of its price band.

More Stories on : IPOs

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Corporate developments

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line