VKS Projects closed the day one of listing with a premium of about one per cent on the BSE. The stock ended the day at Rs 55.60 on the BSE as against the issue price of Rs 55.
On the BSE, the stock opened the trading session at Rs 55.80 share and touched a day’s high of Rs. 56.
On the NSE, the stock ended at Rs 55, the same as the issue price. The stock touched a day’s low of Rs. 53.95 and a day’s high of Rs. 56.35 which was also the opening price.
A combined volume of 22.9 lakh shares changed hands on the bourses during the day.
The initial public offering of VKS projects which was valued at Rs 55 crore opened for subscription on June 29 and closed on July 4.
Net proceeds of the issue is to meet long-term working capital requirements and for setting up of engineering design studio/office and training centre in Chennai, Kochi, Delhi, Hyderabad and Ahmedabad.