Shares of PVC pipes maker Tulsi Extrusions Ltd on Monday rose 17.5 per cent at Rs 99.90 from its initial public offer price of Rs 85 per share.
At 9:56 am, the shares were trading at Rs 105 after touching a high of Rs 118 on the BSE.
The Jalgaon, Maharashtra-based company raised Rs 48.45 crore by offering 5.7 million shares in the public issue.
The company plans to use the proceeds for expanding manufacturing capacity for pipes and moulded fittings at Jalgaon and for working capital requirements.
Source : sify.com
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