Technology services provider Omnitech InfoSolutions on Tuesday got listed with a premium of 75 per cent at Rs 183.75 on the bourses over its issue price of Rs 105.
The scrip evoked good buying interest and within minutes of listing over 11.28 lakh shares exchanged hands on Bombay Stock Exchange (BSE) while over 21.89 lakh shares got traded on National Stock Exchange (NSE).
The scrip, later, parted with some gain and was trading at Rs 165.50 on BSE and Rs 167.40 on NSE at 10.05 am.
The company entered the bourses with over 1.31 crore equity shares at an issue price of Rs 105 each.
Omnitech InfoSolutions intends to deploy the issue proceeds to fund acquisitions or strategic investments, setting up of overseas offices, enhancement of existing facilities and starting new technology centres.
The company has earmarked Rs 19 crores for acquisitions and Rs 7 crores for setting up a technology centre in Pune to consolidate its position in overseas market. Omnitech is also setting up a disaster recovery centre in Dubai besides overseas offices.
The company’s product offering includes business availability services, business continuity services, systems integration solutions and framework solutions.