eClerx Services hits a high of Rs 390

eClerx Services BSE | NSE 10/02/12 Are Mutual Funds betting on eClerx Services?

eClerx Services , provides data analytics and customised process solutions to global enterprise clients, has listed at Rs 320 as against its issue price of Rs 315 per share. It has touched a high of Rs 390 in early trade on the back of appetite of buying interest.

At 10:02 am, the share was trading at Rs 369, up 17%, with volumes of 5,61,476 shares on the BSE.

It had entered capital market with an initial public offering of approx. 37.41 lakh shares of Rs 10 each and raised more than 1000 million. The issue was subscribed 30 times. The price band was between Rs 270 and Rs 315 per equity share.

The proceeds of the issue will be used, inter alia, to fund acquisitions; make infrastructure investments; set up additional facilities and avail of listing benefits. 

The Company's portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services.