Suryachakra lists at 50% premium

Suryachakra Power Corporation debuted on the Bombay Stock Exchange (BSE) today at Rs 30 per equity share - a premium of 50% over its offer price of Rs 20 per share.

The scrip, in early noon deals, was trading at Rs 22.55 per share with a volume of nearly 21.03 million shares.

Suryachakra had come out with an initial public offering (IPO) of 34 million shares in a price band of Rs 17-20 per share. The proceeds from the issue will be used to set up two bio-mass power plants for its subsidiary in Parbhani, and to meet working capital requirement for power trading.