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IPO News
Feb 25 2008 10:01AM
Tulsi Extrusions lists 17.5 pct up from issue price

MUMBAI, Feb 25 (Reuters) - Shares of PVC pipes maker Tulsi Extrusions Ltd <TULE.BO> <TULE.NS> on Monday rose 17.5 percent at 99.90 rupees from its initial public offer price of 85 rupees per share.

At 9:56 a.m. (04:26 GMT), the shares were trading at 105 rupees after touching a high of 118 rupees on the BSE.

The Jalgaon, Maharashtra-based company raised 484.5 million rupees 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. (Reporting by Bharghavi Nagaraju; Editing by Prem Udayabhanu) (([email protected]; +91 22 6636 9059; Reuters Messaging: [email protected]))

Keywords: TULSI/LISTING

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