It was a contrasting day for the two initial public offers (IPOs) which got listed today. Syncom Healthcare closed at a premium to the issue price while Vascon Engineers at a discount.
Syncom Healthcare, which priced its IPO at Rs 75, listed with a premium of 17.3 per cent at Rs 88 on BSE. The company’s shares touched a high of Rs 101 and closed at Rs 87.85, up 17 per cent to the issue price. Syncom was one on the top on the volume charts in today’s trading with turnover of Rs 247.37 crore.
Meanwhile, Vascon Engineers listed at a marginal premium at Rs 170 to the issue price of Rs 165, but quickly slipped below that. The share touched a low of Rs 144 and closed at Rs 147.20, down 10.8 per cent from the issue price. The volume in Vascon was comparatively low with 5.95 million shares traded on BSE.
