Thinksoft Global Share Price | ThinkSoft Sol hits 20% lower circuit

Thinksoft Global Share Price | ThinkSoft Sol hits 20% lower circuit

The stock debuted at Rs100 a discount of 20% over the IPO of Rs125 per share. From there on, it has shot up over 300% in just 5 months.

Shares of ThinkSoft Solutions are locked at 20% lower circuit at Rs397.10 on the back of huge volumes.

The scrip opened at Rs499 it touched an intra-day high of Rs499 and a low of Rs397 and recorded volumes of over 1.5mn shares on NSE.

ThinkSoft Solutions has come a long way after commencing trade on the Indian exchanges. The stock debuted at Rs100 a discount of 20% over the IPO of Rs125 per share.

From there on, it has shot up over 300% in just 5 months.

The company had raised Rs455.7mn through the IPO. Thinksoft Global Services’ IPO ended on 1 October 2009 with subscription of 2.25 times. The IPO got bids for 82.12 lakh shares as against 36.46 lakh shares on offer.

The IPO consisted of a fresh issue of 13.5 lakh shares and an offer for sale of 22.96 lakh shares by Gibraltar-based fund, Euro Indo Investments.

Thinksoft Global Services is a financial software testing company. The company plans to set up a Rs160mn facility at the Madras Export Processing Zone in Chennai. The proposed 400-seat facility, to be funded with the IPO proceeds, would involve Rs137mn for infrastructure development and Rs 1.66mn for equipment.

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