Secunderabad-based maker of agriculture inputs, Kaveri Seeds listed on the National Stock Exchange (NSE) at Rs 204, a premium of 20% over the offer price of Rs 170 per share.The stock soared to a high of Rs 234 in the first few minutes of trading in a weak market. Over 6 lakh shares of Kaveri Seeds changed hands at the NSE.At the Bombay Stock Exchange (BSE), the scrip opened for trading at Rs 201, and soared to a high of Rs 248. It was trading at Rs 240 at 1015 hours.The company had come out with an initial public offer of 40 lakh shares of Rs 10 each in a price band of Rs 150 to Rs 170 a share. Overall the issue was subscribed 4.51 times.Kaveri Seeds raised Rs 68 crore through the IPO, which will mainly fund acquisition of farmland for seed research and production, setting up of marketing offices and expansion of seed processing facilities.
