Shares of auto component maker Varroc Engineering ended with nearly 8 per cent gains against its issue price of Rs 967 in its debut trade today.
The stock debuted at Rs 1,032, surging 6.72 per cent over the issue price on BSE. During the day, the stock soared 9.82 per cent to Rs 1,062. It finally ended at Rs 1,040.55, up 7.60 per cent.
On NSE, shares of the company settled 6 per cent higher at Rs 1,025.15.
The company's market valuation stood at Rs 14,027.81 crore.
In terms of equity volume, 22.75 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.
The company's Rs 1,955-crore IPO was subscribed 3.6 times during June 26-28.
Price band for the offer was fixed at Rs 965-967 per share.
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.
Founded in 1990 in Aurangabad, Varroc is an automotive component manufacturer and supplier of exterior lighting systems, power-trains, electrical and electronics, body and chassis parts to passenger cars and motorcycle segments worldwide.
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