Tecpro Limited which had tapped the capital markets with its IPO in a price band of Rs 340-355 listed at the BSE and NSE today. The company had a listing ceremony on the BSE. The opening or listing was at Rs 399.40 on the BSE, a gain of 12.5%, while on the NSE it listed at Rs 380. The low of the day was the open on both the exchanges with it being Rs 399.40 on the BSE and Rs 380 on the NSE. The high in the first 100 minutes of trade was a similar Rs 429 on both exchanges. The share is currently trading around Rs 426 on both exchanges bus is showing strength at these levels.

The company had issued 75.5 lakh shares which comprised of a fresh issue of 62.5 lakh shares and an offer for sale of 13 lakh shares. The issue was very well received and was subscribed 24.47 times. The listing today has been very positive and this instils some confidence into the investors and the primary market in particular.

The total traded volume after 100 minutes is 134.67 lakh shares which is 1.78 times the IPO size. The weighted average is currently around Rs 419 implying a gain of 18% to the issue price and the market price is around Rs 426 implying a gain of 20%. Retail investors who had applied for the full amount of Rs 1lakh were allotted 31 shares which if sold at the weighted average means a profit of Rs 64 per share or just about Rs 2000 in a period of 12 days. A decent return to all investors as of now.

The share has begun well and looks strong currently. Further upside looks likely.