Nu Tek India settled at Rs 199.30 on BSE, a premium of 3.80% over the IPO price of Rs 192.

On BSE, 1.30 crore shares were traded on the Nu Tek India counter. The stock hit a high of Rs 225 and a low of Rs 194. The stock debuted at Rs 201.10, a premium of 4.73% over the IPO price.

The current price Rs 199.30 discounts, the company's year ended March 2008 EPS of Rs 12.30, by a price earning (PE) multiple of 16.20.

Nu Tek, a telecom infrastructure services provider, had fixed the issue price the top end of the Rs 170 - Rs 192 IPO price band.

Nu Tek India IPO ended on 1 August 2008 with 1.63 times subscription. The issue received bids for 73.49 lakh shares as against 45 lakh shares on offer. The qualified institutional buyers (QIBs) category was subscribed 2 times, the non-institutional investors portion was subscribed 1.78 times and the retail portion was fully subscribed.

Nu Tek India intends to utilise proceeds to meet the cost of capital expenditure, overseas acquisition and augmenting the long term working capital.

The company operates in states like Jharkhand, Orissa, West Bengal, Uttar Pradesh, Punjab, Jammu & Kashmir, and Uttarakhand. It has already started operations in Mumbai, Maharashtra and Goa.

The company provides services pertaining to technical support, operational & maintenance and telecom implementations. It undertakes turn-key projects which constitutes 57% of their business activities.

Nu Tek India reported a net profit of Rs 21.27 crore on revenue of Rs 95.16 crore in year ended March 2008.

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