Vascon Engg lists with 3% premium; Syncom with 17% on BSE

Vascon Engineering today listed with a premium of 3.03 per cent at Rs 170 on the Bombay Stock Exchange.

The scrip opened at Rs 170 and within minutes of listing surged 5.12 per cent over its issue price to a high of Rs 173.45 on the Bombay Stock Exchange (BSE).

The company listed 9 crore shares on the bourses at an issue price of Rs 165 a piece.

On the National Stock Exchange (NSE), Vascon Engineering listed with a discount of 5.45 per cent at Rs 156. It later rebounded and surged 4.21 per cent over issue price to Rs 171.95.

Nearly 35 lakh shares changed hands on both the bourses.

The company had hit the capital market last month and raised Rs 200 crore through initial public offer which was fully subscribed on the final day.

Besides, Indore-based Syncom Healthcare listed with a premium of 17.33 per cent at Rs 88 on the BSE.

After a decent opening, the scrip surged to a high of Rs 101, up 34.66 per cent over its issue price.

The company, which is engaged in the marketing and manufacturing of drugs and formulations, listed 1.75 crore shares on the bourses today at an issue price of Rs 75.

On the NSE, Syncom Healthcare opened with 20 per cent premium and scaled higher to Rs 100.45, up 34 per cent over issue price.

Over 1.29 crore Syncom Healthcare shares changed hands on both the bourses.

Last month the company raised about Rs 56 crore from the capital market and had fixed the issue price at the higher end of the price band.

The company would utilise the issue proceeds to set up a new manufacturing unit to produce formulations at Special Economic Zone in Indore and also for other corporate purposes.

The scrip of Vascon Engg was later trading at Rs 148.05, down 10.27 per cent, while Syncom was quoting higher by 27.53 per cent at Rs 95.65 on the NSE at 1011 hrs.