Stocks

Acropetal Tech lists at 44% premium

PTI Mumbai | Updated on March 10, 2011 Published on March 10, 2011

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.

The scrip got listed at Rs 130, up 44.44 per cent from the issue price. Within the minutes of trade, it witnessed a jump of 66.66 per cent to an early high of Rs 150.

On the National Stock Exchange, the scrip got listed 2.22 per cent higher at Rs 92 apiece. However, it soon gained momentum and rose 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 for business expansion within the country and abroad, including setting up of 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.



Published on March 10, 2011
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