NEW DELHI: Auto component maker Varroc Engineering got listed on the bourses on Friday after a successful initial public offer (IPO) conducted last week. The Rs 1,955 crore
IPO of Varroc Engineering was overall subscribed 3.59 times till the final day of the bidding process on Thursday.
The scrip made a good debut listing at Rs 1,032 with a premium of 6.7 per cent.
Price band for the offer was fixed at Rs 965-967 per share. The QIB category was subscribed 9.15 times while NII quota received 2.45 times subscription. Retail investors’ category saw 0.94 times subscription. Employee's quota was subscribed 0.65 times, data from exchanges showed.
The scrip got listed on both NSE and BSE.
Varroc Engineering supplies auto parts to Jaguar Land Rover, Bentley, Audi and Harley Davidson. Besides, it supplies auto parts to giants such as Volkswagen, Ford, Honda and
Bajaj Auto.
Kotak
Mahindra Capital, Citigroup Global Markets India,
Credit Suisse Securities India and IIFL Holdings managed the issue.
