Home Market Varroc Engineering to debut on bourses on Friday

Varroc Engineering to debut on bourses on Friday


Auto component maker Varroc Engineering will make its stock market debut tomorrow after a successful initial public offer that closed last week.

The company's Rs 1,955-crore IPO was subscribed 3.6 times during June 26-28.

Price band for the offer was fixed at Rs 965-967 per share.

Varroc Engineering supplies auto parts to Jaguar Land Rover, Bentley, Audi and Harley Davidson. Besides, it supplies auto parts to giants such as Volkswagen, Ford, Honda and Bajaj Auto.

Founded in 1990 in Aurangabad, Varroc is an automotive component manufacturer and supplier of exterior lighting systems, power-trains, electrical and electronics, body and chassis parts to passenger cars and motorcycle segments worldwide.

Kotak Mahindra Capital, Citigroup Global Markets India, Credit Suisse Securities India and IIFL Holdings managed the issue.

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