Mumbai: Shares of wind turbine manufacturer and engineering firm Shriram EPC Ltd listed at Rs298 on Wednesday, down 0.67% from its issue price of Rs300 a share.
Its shares were trading at Rs315 on the Bombay Stock Exchange at 9.56a.m. after reaching a low of Rs285.
The company is raising Rs1.5 billion rupees from its initial public offering of 5 million shares, which was subscribed 3.85 times earlier this month. The price band per share in teh IPO was Rs290-330.
Shriram EPC is building an ethanol plant in the Czech Republic for Newco Prague and constructing a 30-mega watt rice husk-based power plant for Lakshmi Energy and Foods in India.
The funds raised will be used to invest in its subsidiary and associate companies.