Indore based Syncom Healthcare listed at Rs 89.90 on the NSE, at a premium of 19.86% to its issue price of Rs 75. It touched a high of Rs 100.45 and saw a turnover of Rs 34 crore in the early trade.
At 9:12 hours IST, the share was trading at 97.80 on the BSE. It opened at Rs 88 and hit a high of 101.
Syncom Healthcare, which is engaged in the business of manufacturing, marketing and distribution of pharmaceutical formulations under own brands of Ethical, OTC, Generic and Herbal market segment, had entered capital market with public issue of 75,00,000 equity shares during January 27-29, 2010 and subscribed 5.17 times. The price band was at Rs 65-75.
The company has raised Rs 56.25 crore from this issue. The proceeds from the issue will be used for setting up new manufuring unit at Indore SEZ for various pharmaceuticals formulations; undertaking the upgradation/modernization of manufacturing facilities at Dehradun Plant; working capital requirements; setting up an export office at Mumbai and undertaking Brand & Product Registration and Approval.
Source : http://www.moneycontrol.com/news/ipo-new-listings/syncom-healthcare-lists20-premium_441667.html
At 9:12 hours IST, the share was trading at 97.80 on the BSE. It opened at Rs 88 and hit a high of 101.
Syncom Healthcare, which is engaged in the business of manufacturing, marketing and distribution of pharmaceutical formulations under own brands of Ethical, OTC, Generic and Herbal market segment, had entered capital market with public issue of 75,00,000 equity shares during January 27-29, 2010 and subscribed 5.17 times. The price band was at Rs 65-75.
The company has raised Rs 56.25 crore from this issue. The proceeds from the issue will be used for setting up new manufuring unit at Indore SEZ for various pharmaceuticals formulations; undertaking the upgradation/modernization of manufacturing facilities at Dehradun Plant; working capital requirements; setting up an export office at Mumbai and undertaking Brand & Product Registration and Approval.
Source : http://www.moneycontrol.com/news/ipo-new-listings/syncom-healthcare-lists20-premium_441667.html
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