Mumbai: IT solutions provider Vishal Information Technologies got listed on the National Stock Exchange with a discount of 13.33% at Rs130 over its issue price of Rs150.
The scrip, however, gained strength and rallied ahead to touch an intra-day high of Rs184. It was trading at Rs176.40 and over 10.81 lakh shares exchanged hands on the NSE.
Similar movement was witnessed on the Bombay Stock Exchange, where the scrip got listed at Rs150, touched an intra-day high of Rs185 and as many as 17.96 lakh shares got traded within minutes of its listing.
The issue proceeds would be utilised for expanding Vishal Info’s existing services and entering new verticals. Besides, increasing data digitalisation seats from the present 250 to 450, e-publishing seats from 150 to 250 and digital library seats from 75 to 100.
The company currently operates from leased facilities in Chennai and Mumbai.