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Last Updated : Jul 06, 2018 04:26 PM IST | Source: Moneycontrol.com

Varroc Engineering stock ends 7% higher at Rs 1040 on BSE

The stock has touched an intraday high of Rs 1,062 and an intraday low of Rs 1,000.

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The share price of auto component maker Varroc Engineering closed at Rs 1040.55 on Friday, a gain of 7.6 percent over its issue price of Rs 967 on the BSE.

The stock has touched an intraday high of Rs 1,062 and an intraday low of Rs 1,000.

The Rs 1,955-crore initial public offering was oversubscribed 3.59 times during June 26-28, driven by strong interest from institutional investors.

The price band for the issue, which consisted of an offer-for-sale of 2,02,21,730 equity shares by promoter Tarang Jain and existing investors which are Tata Group companies - Tata Capital Financial Services and Omega TC Holdings, was Rs 965-967 per share.

Founded in 1990 in Aurangabad (Maharashtra), Varroc Engineering is an automotive component manufacturer and supplier of exterior lighting systems, power- trains, electrical and electronics, body and chassis parts to passenger cars and motorcycle segments worldwide.

It supplies auto parts to Jaguar Land Rover, Bentley, Audi and Harley Davidson. Besides, it supplies auto parts to giants such as Volkswagen, Ford, Honda and Bajaj Auto.
First Published on Jul 6, 2018 04:02 pm
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