The Rs. 240-crore public float, was subscribed by 1.89 times at a price band of Rs 180-186 per share.
Precision Camshaft Ltd shares were 7% lower on debut as against issue Price of Rs 186/Share.
The stock opened at Rs.165. The stock has hit a high of Rs.175 and a low of Rs. 154.
The Rs. 240-crore public float, was subscribed by 1.89 times at a price band of Rs 180-186 per share.
The company stated that the proceeds from the issue would be utilised for setting up a machine shop for ductile iron camshafts at its unit at Solapur in Maharashtra.
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