Varun Industries Limited - Listed on BSE & NSE :
The scrip of Varun Industries Limited , India’s largest exporter of stainless steel kitchenware and utensils was listed on the Bombay Stock Exchange and National Stock Exchange on November 22, 2007.
On the Bombay Stock Exchange the stock opened at 105 up by Rs. 45 or 75% .
The scrip touched a high of Rs 150 and a low of Rs 94.20 and closed the day at Rs112.65 which is 87.75 .% higher than the offer price of Rs. 60.
The company had come out with an initial public offering of 90 lakhs shares of Rs. 10 each at a fixed price of Rs. 60 per share.
At the Listing Ceremony held the Lead Managers to the Issue commented that the company had received a record number of valid applications- 1,51786 and the fact that it had been oversubscribed 36.18 times in both the retail and non- retail markets itself was an indication of the confidence of people in the company. In response Mr. Kiran Mehta CMD of Varun Industries Limited assured the audience that the company is committed to living up to the expectations of its shareholders.
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