By SRIT India Limited is a Bengaluru-based IT and IT-enabled services company.
It was incorporated in September 1999.
It provides digital solutions, custom application development and system integration services.
Its customers include government entities and enterprises in India and some overseas markets.
Its shares listed on October 6 at Rs 148 on the NSE.
After listing, the stock traded at around Rs 155.09 on the NSE, a gain of about 19.30% over the issue price, according to BW Businessworld.
The Rs 218.40 crore initial public offering was entirely a fresh issue of 1.68 crore equity shares, with no offer for sale.
The issue opened for subscription on September 28 and closed on September 30, with a price band of Rs 123 to Rs 130 a share.
It was subscribed 125.16 times in total.
The non-institutional investor quota received the most bids, with the reserved portion subscribed 312.99 times.
The lot size was 115 shares, so the minimum retail investment at the top of the band was Rs 14,950.
An investor who got one lot at Rs 130 and sold at the NSE listing price of Rs 148 would have made Rs 2,070 before charges, on this calculation.
Before listing, the grey market premium implied a listing price of around Rs 162, according to IPO trackers.
The actual NSE listing price was below that grey market expectation, which is an unofficial indicator and not a forecast.
SRIT India Limited is a Bengaluru-based IT and IT-enabled services company, incorporated in September 1999.
The company provides digital solutions, custom application development and system integration services to government entities and enterprises in India and some overseas markets.
On listing day, a special pre-open session runs from 9 am to 9:45 am to set the listing price, and normal trading starts at 10 am.
The listing came on a day when the Sensex rose 685 points to close at 73,067.81 and the Nifty gained 220 points to 22,776.10.
NSE Exchange Plaza, Mumbai (file image), Wikimedia Commons, CC BY-SA 4.0
