Tecpro Systems debuts up 20% on BSE

Tecpro Systems debuts up 20% on BSE

Mumbai: Material handling and engineering, procurement and construction firm Tecpro Systems debuted on the BSE at Rs425 on Tuesday, up 19.7% on its issue price of Rs355 per share.

The company raised Rs268 crores through the initial public offer (IPO) of 7.55 million shares.

The firm has allotted 1.32 million equity shares to anchor investors Birla Sun Life, Emerging Markets Management LLC, Franklin India Smaller Companies Fund, Sundaram BNP Paribas Mutual Fund, Axis Bank, Copthall Mauritius Investment Ltd and The Nomura Trust and Banking Co.

SBI Capital Markets and Kotak Mahindra Capital were the book-running lead managers to the issue.

At 9:02am, shares of Tecpro Systems were trading at Rs414, up 17% in a soft Mumbai market.