Mumbai: Technology services provider Zylog Systems today got listed at a premium of 50% on the Bombay Stock Exchange at Rs525 against the issue price of Rs350.
Within minutes of listing, 5.99 lakh shares of the company exchanged hands on BSE.
On the National Stock Exchange, the company got listed at Rs557 and more than 12.17 lakh shares were traded.
Later, Zylog Systems parted with some gains and was trading at Rs 431 on BSE and Rs 427.10 on NSE at 10 am.
The company raised over Rs122.50 crore through the IPO, issuing over 35 lakh equity shares at Rs350 each.
It would utilise the proceeds on setting up two offshore development centres and build a war chest for strategic investments and mergers and acquisitions.