Shares of Vinsys IT Services, an Indian IT company, experienced a significant surge of 70% on Friday, marking a stellar debut on the stock market. The stock closed the day at a premium of 70% compared to its issue price of Rs 128.
At the beginning of the trade, the stock was priced at Rs 207.25, a substantial 62% increase from the issue price on the NSE Emerge. Throughout the day, the stock reached an intra-day high of Rs 217.60, which also served as the closing price.
The impressive performance of Vinsys IT Services was reflected in the trading volume as well, with 18.45 lakh shares being traded on the NSE Emerge platform during the day.
The successful initial public offering (IPO) of Vinsys IT Services was subscribed 89 times on the last day of subscriptions on August 4. The IPO consisted of a fresh issue of 3.89 million equity shares with a face value of Rs 10 each, following the book-building process. There was no offer-for-sale component.
Vinsys IT Services India Ltd., headquartered in Pune, was established in 2008 and is a part of the Vinsys Group. The company has been dedicated to IT skill development, training, and certification since its inception.
In conclusion, Vinsys IT Services experienced a remarkable debut in the stock market, with its shares soaring 70% and closing at a premium. The strong response to its IPO and the company’s focus on IT skill development have contributed to its success.
