Pennar Engineered Building Systems closes with 11.5% discount to IPO price

Settles at Rs 157.50 on BSE

Shares of Pennar Engineered Building Systems (PEBS) settled at Rs 157.50 on BSE, a discount of 11.51% compared with initial public offer (IPO) price of Rs 178.

Meanwhile, the S&P BSE Sensex dropped 97.41 points or 0.38% to settle at 25,622.17.

The stock debuted at Rs 150 on BSE, a discount of 15.73% compared with its IPO price. The stock hit a high of Rs 157.50 and a low of Rs 150 in intraday trade. On BSE, 25,000 shares were traded in the counter.

The IPO of 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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