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The price of automotive equipment supplier Varroc Engineering closed at 1040.55 Rs on Friday, an increase of 7.6% compared to its issue price of 967 rupees on BSE. .
The stock hit a high of 1.062 rupee The initial IPO of Rs 1.95 crore was oversubscribed 3.59 times over the course of June 26-28, spurred by strong interest from institutional investors.
The price range for the issue, which consisted of an offer The promoter Tarang Jain and the existing investors who are companies of the Tata group – Tata Capital Financial Services and Omega TC Holdings – sold for 2,022,730 shares of Rs 965-967 per share.
Founded in 1990 in Aurangabad (Maharashtra), Varroc Engineering is a manufacturer and supplier of outdoor lighting components, powertrains, electrical and electronic components, bodywork and chbadis for pbadenger cars and segments. motorcycles around the world.
and Rover, Bentley, Audi and Harley Davidson. In addition, it supplies auto parts to giants such as Volkswagen, Ford, Honda and Bajaj Auto.
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