Shares of Pennar Engineered Building Systems were trading at Rs 157.50 at 11:16 IST on BSE, a discount of 11.51% compared with initial public offer price of Rs 178.
Meanwhile, the S&P BSE Sensex was down 304.45 points or 1.18% at 25,415.13.
The stock debuted at Rs 150 on BSE, a discount of 15.73% compared with its initial public offer (IPO) price. The stock hit a high of Rs 157.50 and a low of Rs 150 so far during the day. On BSE, 23,000 shares were traded on the counter so far during the day.
The IPO of Pennar Engineered Building Systems (PEBS) had received decent response from investors. The IPO was subscribed 1.15 times. The bidding for the IPO started on 25 August 2015 and concluded on 27 August 2015.
PEBS' net profit rose 27.64% to Rs 21.98 crore on 22.71% rise in net sales to Rs 450.29 crore in the year ended 31 March 2015 (FY 2015) over the year ended 31 March 2014 (FY 2014).
PEBS is a subsidiary of Pennar Industries. The company's products and services include pre-engineered buildings, design and engineering services, solar module mounting structures, cold form buildings and structural steel products widely used for various manufacturing, warehousing, industrial, infrastructure and custom designed commercial buildings.
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