Varroc Engineering debuts at a premium of 6.7 per cent

Varroc Engineering got listed on Friday at Rs. 1,032 per share on BSE, a premium of about 6.7 per cent. 

The initial public offer (IPO) was open for subscription during June 26-28 at a price band of Rs. 965 to 967 per share. Driven by strong interest from institutional investors, the company's Rs. 1,955-crore IPO was subscribed 3.6 times. 

Varroc Engineering is in the business of manufacturing and supplying exterior lighting systems,  electrical and electronics, power-trains, body and chassis parts to motorcycle and passenger car segments. The company supplies auto parts to auto giants such as Volkswagen, Ford, Honda, Bajaj Auto etc. 

At 11:54 hours on Friday, Varroc Engineering was trading at Rs. 1,023.80 per share, up Rs. 56.80 or 5.87 per cent over its issue price on BSE. So far, the stock has attracted a traded volume of 14,34,917 shares on BSE.