Circuit Systems debuts with 20% premium

BSE | NSE 01/01/70 Are Mutual Funds betting on ?

Circuit Systems India has listed at Rs 42, a whopping 20% premium over its offer price of Rs 35 and surged to a high of Rs 59.

It was quoting at Rs 45.70, with volumes of 22,29,793 shares. It has hit a low of Rs 40.05.

The company had entered capital market with a public issue of 42,44,810 shares of Rs 10 each for cash at a premium of Rs 25 each and raised Rs 14.85 crore for expansion. Promoter's contribution of Rs 4.37 crore would also be included in the total fund raised.

Circuit Systems India is into manufacturing of rigid Printed Circuit Board (PCB), a key electronic component. PCBs have an end-use application in telecommunications, process control equipment, computer, automobiles, defense, space applications and industrial electronics.