(Reuters) - Varroc Engineering Ltd's shares rose as much as 6 percent in their market debut on Friday, after the auto parts manufacturer's initial public offering raised 19.55 billion rupees ($283.58 million).
The company's shares were up 5.3 percent at 1,018 rupees as of 0433 GMT, compared with the IPO issue price of 967 rupees.
Varroc Engineering's IPO was subscribed over three times on the last day of the sale late last month.
The company supplies automobile components to Bentley, Audi and Harley Davidson.
($1 = 68.9400 Indian rupees)
Also Read
(Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app