Feb 03, 2010
After receiving fabulous response during the issue's subscription, Infinite Computer Solutions , a global service provider of infrastructure management, intellectual property leveraged solutions and IT services, has seen good buying interest on listing day.
The stock touched day's high of Rs 204.95 on NSE, up 24.2% over its issue price of Rs 165 per share.
The share listed at Rs 170, which was the day's low and was trading at Rs 189.30, up 14.73%, at 9:11 hours IST. It has seen some profit booking at higher levels from high networth investors (HNI).
The stock traded with volumes of 34,97,555 shares and has seen a turnover of Rs 67.3 crore.
On the BSE, the share opened at Rs 178.35 and touched an intraday high of Rs 203 and low of Rs 178.35. It was trading at Rs 189.45.
Infinite entered the capital market during January 11-13, 2010, with an IPO of Rs 189.8 crore and the price band was between Rs 155 and Rs 165 per equity share. The issue was subscribed over 43 times and the company raised Rs 190 crore.
The issue consisted of a fresh issue of 57,33,600 equity shares by the company (amounts to around Rs 94 crore) and an offer for sale of 57,69,400 equity shares by Whiterock Investments (Mauritius) Limited, Vaibhav Bhatnagar and Sanjay Govil (amounts to around Rs 95 crore).
The fresh issue proceeds will be used for capital expenditure (Rs 25.7 crore); acquisitions (Rs 38 crore) and repayment of debt (Rs 8.4 crore).