Allied Computers International settled at Rs 37.70 on BSE, a premium of 214.16% over IPO price of Rs 12 per share.

2.74 crore shares were traded on the counter on BSE in early trade.

The stock debuted on BSE at Rs 21, a 75% premium compared to its issue price of Rs 12. It hit high of Rs 41.25 and low of Rs 21 during the day.

The company mopped Rs 6 crore in the recently concluded initial public offer. The company had come out with a fixed priced IPO. The issue opened on 19 October 2007 and closed on 23 October 2007. The promoters hold 61.93% of post issue equity share capital.

Allied Computers International is a Mumbai based IT hardware company. It plans to launch laptop costing Rs 15000 in Q1 June 2008. This new laptop will weigh less than a kilo and will be much smaller in size than the conventional laptop.

The company posted 138.10% rise in net profit to Rs 0.50 crore on 57.10% growth in net sales to Rs 26.39 crore in the year ended March 2006 over the year ended March 2005.

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