Mumbai: Leading business process outsourcing (BPO) company, Firstsource Solutions, on Thursday got listed at Rs75.10 on the Bombay Stock Exchange (BSE), against its issue price of Rs64 per share, a premium of 17.34%.
The scrip touched a high of Rs88.90 within minutes of listing, as 24.20 lakh shares changed hands on BSE, according to data available on the bourse.
Firstsource Solutions entered the bourses with more than 41.62 crore shares of Rs10 each, at a premium of Rs54.
On the National Stock Exchange (NSE), Firstsource made its debut at Rs90.10, with a 40.81% premium, and more than one crore shares were traded as the stock witnessed heavy selling activity, NSE data shows.
The company (formerly known as ICICI OneSource) entered the capital market with its initial public offering of 6.93 crore equity shares.
This included an offer for sale of 93 lakh shares by the ICICI Group, which was oversubscribed more than 50 times—generating a demand of more than Rs22,000 crore.
Major participation was seen from qualified institutional investors and non-institutional investors.
Firstsource Solutions intends to use the net proceeds of the issue to make acquisitions, set up new facilities, repay a loan and for general corporate purposes.
The company has more than 74 leading organizations as customers, including Fortune 500 companies.