Telecom solutions provider Nu Tek India today got listed at Rs 201.10 on the Bombay Stock Exchange, with a premium of 4.73 per cent over its issue price of Rs 192.
Within minutes of listing, the shares of the company touched its intra-day high of Rs 225 and a low of Rs 194. The scrip was trading at Rs 201.10 at 10.23 am on the BSE.
Similar trend was seen on the National Stock Exchange, where the scrip opened at Rs 195 with a marginal premium over its issue price and then witnessed an intra-day high of Rs 217 and was trading at Rs 202.30 at 10.25 am on the NSE.
The company got listed with 1.72 crore equity shares.
Nu Tek would utilise the proceeds from the issue to meet the cost of capital expenditure, overseas acquisitions and augmenting the long-term working capital requirement amongst others.
The company is also exploring overseas markets and has set up a subsidiary in Turkey.
It also has a contract with Ericsson AB, Dubai to provide services to their operations in Middle East.