Settles at Rs 293.60 on BSE compared to IPO price of Rs 300

Wind turbine manufacturer and engineering firm Shriram EPC settled at Rs 293.60 on BSE, a discount of 2.1% over IPO price of Rs 300. The stock debuted at Rs 290, a discount of 3.3% over the IPO price.

The stock hit a low of Rs 281.05 and high of Rs 374.70. On BSE, 1.04 crore shares changed hands in the counter.

The current price of Rs 293.60 discounts its year ended March 2007 EPS of Rs 3.3, by a PE multiple of 88.96.

Shriram EPC IPO had ended with 3.91 times subscription on 1 February 2008. The IPO had received bids for 1.95 crore shares as against 50 lakh shares on offer. The qualified institutional buyers (QIBs) portion was subscribed 6.13 times, the non institutional investors portion was subscribed 0.41 times and the retail investors portion was subscribed 0.62 times. The price band for the IPO was Rs 290-330.