GSS America debuts at Rs 400

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GSS America debuts at Rs 400

GSS America Infotech, IT solution provider has listed at its issue price of Rs 400 and touched a high of Rs 475 in early trade as good buying support seen in the stock. It was trading with volumes of 6,83,294 shares.

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GSS Infotech BSE | NSE 25/05/12 Are Mutual Funds betting on GSS Infotech?

GSS America Infotech , IT solution provider has listed at its issue price of Rs 400 and touched a high of Rs 475 in early trade as good buying support seen in the stock. It was trading with volumes of 6,83,294 shares.

At 10 am, the shares was quoting at Rs 456, up by 14% or Rs 56 on the BSE.

On the NSE, the share opened below issue price, at Rs 380, down by Rs 20. It has hit a high/low of Rs 540 and Rs 370, respectively. It was quoting at Rs 465, up by Rs 65 or 16.25%, with volumes of 3.65,861 shares. The turnover was at Rs 16.5 crore.

The company had entered capital market with a public issue of 34,97,495 equity shares of Rs 10 each at a price band of Rs 400 to Rs 440 per equity share. The issue got subscribed 1.08 times.

The Company's present operations can be classified into two areas namely Enterprises Application Integration, (EAI) Infrastructure Management and Managed Services (IM/MS).

Its clientele include major Fortune 1000 companies like Ernst & Young, Blue Cross Blue Shield of NC, BMC Software, Thomson, WR Grace & Co, TDS Telecom, Pepsi Co, etc.