Precision Camshafts settled at Rs 177.25 on BSE, at a discount of 4.7% to its offer price of Rs 186 on its debut on the bourses today, 8 February 2016.
Meanwhile, the S&P BSE Sensex dropped 329.55 points or 1.34% to settle at 24,287.42.
The stock got listed at Rs 163.10, at a discount of 12.31% to the issue price of Rs 186. The stock hit a high of Rs 184.70 and a low of Rs 155 in intraday trade. On BSE, 30.78 lakh shares were traded on the counter.
Precision Camshafts' initial public offer (IPO) was subscribed 1.91 times.
On consolidated basis, the company reported net profit of Rs 34.10 crore on net turnover of Rs 253.37 crore for six months ended 30 September 2015. Net profit stood at Rs 62.36 crore on net turnover of Rs 532.42 crore for the year ended 31 March 2015.
Precision Camshafts, promoted by first generation entrepreneurs Yatin Shah and Suhasini Shah, is one of the world's leading manufacturers of camshafts, a critical engine component in passenger vehicles.
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